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Zinc Dropped As Shanghai Warehouse Zinc Stocks Up 11.3%.

Zinc prices experienced a marginal decline of -0.16%, settling at 221.05, influenced by an 11.3% increase in zinc inventories in Shanghai Futures Exchange-monitored warehouses since last Friday. However, the downside was limited due to ongoing supply concerns, notably the Seokpo smelter in South Korea cutting its output by a fifth. This substantial reduction by the world’s sixth-largest smelter raises the potential of narrowing the expected market surplus of 300,000 tons or even pushing it into a deficit.