| Investors are stampeding back into the London zinc market. Their return has triggered a super-charged rally in prices. On the London Metal Exchange (LME), three-month metal has soared from under $2,000 per tonne in mid-March to last week’s highs above $2,400 per tonne.
Spreads have tightened as shorts scramble to cover positions in the face of a dominant long position controlling somewhere between 40 and 50 percent of non-cancelled LME stocks. LME stocks, meanwhile, continue to fall at a steady pace. They are now down by around 35 percent, or 239,000 tonnes, since the start of the year...............................................Full Article: Source
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