Zinc prices hovered below $3,900 per tonne after pulling back sharply from an over four-year high, amid a broader, sentiment-driven selloff across the base-metals complex. The downturn was triggered by a report that the White House was hesitating over import tariffs on refined copper, prompting traders to unwind bullish positions and take profits. Increased bets on a Federal Reserve rate hike next month also boosted the US dollar, reducing the appeal of dollar-denominated metals, while the prospect of increased Chinese export deliveries to the LME eased some supply concerns. Zinc has surged in recent months amid tightening supply conditions, with production disruptions at several mines, including in China, while the Middle East tensions have restricted Iranian ore shipments. LME warehouse inventories remain low relative to historical levels, while physical availability remains particularly tight outside China. The tightness is also evident in sharply lower smelter treatment charges.