Shanghai zinc opens limit down, nears contract low

SINGAPORE, May 30 (Reuters) - Shanghai August zinc SZNQ8 opened at its 4 percent downside limit at 16,660 yuan ($2,402) a tonne on Friday after London futures tumbled 6.6 percent in a cross-commodities sell-off.

London zinc MZN3 rose $5 to $1,985 a tonne at 0101 GMT after the previous day's losses, trading around its lowest since early 2006. Overnight, stocks jumped almost 6 percent or 7,850 tonnes to 143,500 tonnes, adding to bearish sentiment.

Shanghai zinc is around 500 yuan above its contract low of 16,120 yuan touched in November 2007. Shanghai copper and aluminium also fell after each losing more than 2.5 percent in London overnight. (Reporting by Nick Trevethan; Editing by Louise Heavens)