MARKET TALK: LME Zinc Pushes To New High On Falling Stocks

LME three-month zinc prices continue to hit new highs on the back of falling zinc stocks, strong demand, and bullish technicals, says William Adams of BaseMetals. Moreover, zinc stocks fell below 100,000 metric tons - a key psychological level - which impresses upon people just how tight stocks really are, Adams says. According to LME warehouse data, zinc stocks fell 1,800 metric tons to 99,550 tons. Zinc trades at $4,485 per metric ton, down from Tuesday's high of $4,500/ton.