Zinc snaps six-day rally as rising stocks ease tightness

Zinc prices on the London Metal Exchange slipped about 1 percent on Thursday, ending a run of six straight sessions of gains. The three-month contract traded at $3,855 a metric ton by 1002 GMT, after reaching $3,949.5 on Wednesday, its loftiest level since June 2022, according to Business Recorder.

Exchange figures indicated that inventories climbed to 97,875 tons, a three-week peak, after 1,100 tons were added to LME-registered warehouses in Singapore and Hong Kong. Analysts foresee further arrivals, largely from China, as the cash premium over the three-month price rose to $199 a ton on Wednesday, its strongest since December, from a $25 discount three months earlier.

A separate industry body put the first-half 2026 refined zinc surplus at 120,000 tons, with reported inventories up 92,000 tons and output rising 1.3 percent on growth in China. In other LME metals, copper fell 0.5 percent to $14,177.50 a ton ahead of a Friday speech by Federal Reserve Chair Kevin Warsh, while aluminium, lead, tin and nickel also eased.