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LME zinc stocks up slightly

Non-ferrous metallurgy

The global demand for zinc has slightly weakened, which has led to an increase in stocks on exchanges and a reduction in the global shortage of the metal.

LME zinc stocks up slightly

According to the London Metal Exchange (LME), zinc stocks in warehouses working with this exchange recovered from record lows, increasing by 7.75% and amounted to 56,275 tons as of November 19, the highest level since the end of October .

Nevertheless, zinc reserves at the LME remain at their lowest level in almost 12 years.

Data from the Shanghai Futures Exchange (SHFE) showed that stocks of zinc in SHFE-listed warehouses fell 10.46% weekly on the week to 57,121 tonnes on November 15. This is the lowest figure in almost six months.

The global zinc deficit in September fell to 21,400 tons from a revised 27,000 tons in August, the International Lead and Zinc Research Group (ILZSG) said Tuesday.

In the first nine months of 2019, the zinc deficit was reduced to 156,000 tons, compared with 272,000 tons in the same period last year.

ILZSG data also showed that the global lead deficit increased to 41,000 tons in September from 26,800 tons in the previous month.

The lead deficit increased to 83,000 tons between January and September from 34,000 tons last year.

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