Available zinc inventories in registered warehouses of the London Metal Exchange (LME) more than halved this week, but supplies could be replenished from China, where stocks have been rising, analysts said.
LME zinc inventories have been eroding this year, evidence of supply problems in Europe and the United States as smelters reduce output, a contrast to the more plentiful picture in China.
A scramble to access available material sent the spread between LME cash zinc and the three month contract soaring to a three-year high of $148.60 a tonne on Wednesday from only $14.30 last week.and others in the face of power prices that hit three-month highs on Tuesday. In China, weaker demand due to an economic slowdown and COVID-19 lockdowns has lead to rising inventories, which may help rebalance the global picture.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China Building DNA Databases in 25 Provinces, Report SaysAn extensive investigation published by The New York Times has revealed that Chinese authorities are building DNA databases on men in 25 of the mainland’s 31 provinces.
Lire la suite »
How Uyghur Forced Labor Prevention Act will affect U.S. and ChinaWashington and Beijing have traded words and sanctions on human rights abuses in Xinjiang, but now the U.S. is transferring some of the burden onto the business community.
Lire la suite »
Honda Begins Taking Orders for e:NP1 In ChinaHonda and GAC are ready to start taking pre-orders for the e:NP1, an affordable 5-door compact SUV for China.
Lire la suite »
Researchers develop a 'mind-reading' device to help censor porn in ChinaChina has strict censorship on pornographic content and this research will work toward improving porn detection accuracy.
Lire la suite »
Hong Kong's enormous floating restaurant is now 3,300 feet below the South China SeaThe iconic restaurant that hosted celebrities from around the world is now sitting at the depth of 3,300 feet, maybe never to surface again.
Lire la suite »
China slowdown prompts healthy luxury rethinkBrands like Gucci and Louis Vuitton have made a killing in China's $63 bln market. Yet Beijing's Covid-19 policies and rising nationalism among young shoppers show the perils of being overdependent on one consumer group. A pivot into the United States and the Gulf offers a hedge.
Lire la suite »