Zinc rallies as inventory declines once again

Zinc inventory at the LME had fallen to the lowest levels since 1975 in February 2023 (15,600 tonnes). That appeared to be a dangerously low level for the operations of the exchange and seemed to indicate physical tightness in the metal. While Shanghai Futures Exchange (SHFE) Inventories were low around that time, they expanded significantly, alleviating worries about metal availability.