MARKET TALK: LME Zinc Makes Positive Move Up

Zinc's poor price performance since January is surprising but the LME market's move above $3,700/ton is a "step in the right direction," says BaseMetals. Prices "really need to get back above $3,830/ton to start looking like it has put this bout of weakness behind it," BaseMetals notes. Zinc seems to be suffering as the market is "entrenched in de-stocking," BaseMetals adds, which has seen LME stock activity decline sharply. LME zinc trades at $3,720/ton, up from $3,690/ton Monday.