Zinc dropped on concerns of a slowdown in China, which pledged to support illiquid private companies after third-quarter GDP growth slowed to 6.5 percent.
On-warrant zinc stocks in LME-registered warehouses, have fallen below 100,000 tonnes from almost 240,000 tonnes in August and are close to 10-year lows.
The premium for cash zinc over the three-month LME contract, at $47, remains close to Monday’s $63 one-year high, signalling tight nearby supply.
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