Chinese Zinc Threatens Biggest Jump in 5 Years: Chart of the Day
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Surging Chinese zinc exports risk undermining price gains that have set the metal up for its biggest advance in five years, according to Natixis SA.
The CHART OF THE DAY shows China’s refined zinc shipments rose to the highest since April 2011 in July as prices reached an almost three-year high. The country’s imports of the metal fell last month and the premium Chinese buyers pay to obtain zinc dropped the most since September 2012. Zinc has rallied 15 percent this year, set for the largest gain since 2009, making it the third-best performer on the London Metal Exchange.