MARKET TALK: LME Zinc Targets $3,000 S/T As Fundamentals Weak

LME zinc to target psychological support level at $3,000 short term, now in downtrend as fundamentals weakening, says Tokyo-based trader at major Japan house. Notes LME zinc stocks rose 5,050 tons, or 5% overnight, latest WBMS report shows zinc market oversupplied in January, European zinc premiums softening. LME 3-month zinc +$45 on London PM kerb at $3,160 in very thin volumes, in line with zinc's rebound in NY following FOMC statement, traders say.