METALS-Shanghai zinc jumps to near 4-month top as supplies tighten

Oct 10 (Reuters) - Zinc prices in Shanghai jumped more than 3 percent on Wednesday to their highest since mid-June as output cuts in China buoyed the market.

FUNDAMENTALS

* The most-traded zinc on the Shanghai Futures Exchange rose as much as 3 percent to 23,110 yuan ($3,338.78) a tonne, its loftiest since June 15. Three-month zinc on the London Metal Exchange rose 1.2 percent to $2,709 a tonne.

* Production cutbacks at China's zinc smelters in response to tighter environmental checks and weaker profits have tightened supply.

* China accounts for nearly half of global refined zinc production of about 13.5 million tonnes. It is also the largest consumer of the metal.

* Zinc inventories in LME-registered warehouses fell below 200,000 tonnes from more than 250,000 tonnes in August and are nearing 10-year lows. <MZNSTX-TOTAL>

* Stockpiles in Shanghai Futures Exchange storehouses are at 29,204 tonnes, the lowest since 2007. <ZN-STX-SGH>

* Demand for refined zinc will exceed supply by 322,000 tonnes this year and 72,000 tonnes in 2019, the International Lead and Zinc Study Group (ILZSG) said on Monday.

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MARKETS NEWS

* Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth, although the pound stayed firm on hopes for a Brexit deal.

DATA AHEAD (GMT)

0645 France Industrial output Aug 0830 UK GDP estimate Aug 0830 UK Industrial output Aug

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS ($1 = 6.9217 Chinese yuan)

(Reporting by Naveen Thukral; Editing by Subhranshu Sahu)