Another 17kt of zinc enters New Orleans as ‘Glencore protects premiums’

London Metal Exchange zinc inventories swelled to 871,050 tonnes on Thursday after a further 17,225 tonnes of material entered stores in New Orleans, for which Glencore was once more said to be responsible

Zinc stocks in New Orleans have climbed nearly 30% this year, reaching 506,650 tonnes on Thursday, a fresh all-time high.
New Orleans has attracted several large deliveries of zinc in recent months, and market sources have broadly attributed the inflows to the movement of material from Xstrata’s Asturiana zinc smelter in Spain, which Glencore is responsible for marketing.
The material is also said to have originated from the Skorpion plant in Namibia, Nyrstar’s smelter in Clarksville, Tennessee, and Sun Metal Corp’s (SMC) works in Townsville, Australia.

Glencore is responsible for marketing output at the latter plants,...


Mark Burton

July 07, 2011

12:26 GMT