Zinc prices rose significantly this week as they hit their highest level in nearly a decade thanks to robust global demand, declining inventories and a metal shortage in China, which accounts for over 40% of global zinc consumption.
on the London Metal Exchange, three-month zinc futures are trading above $ 3,000 per tonne for the first time since November 2007, increasing the share of major producers Glencore and Vedanta.
Aluminum also rose to record levels in London, trading up 1% to $ 2,069 a tonne after the metal touched $ 2,075.50 a tonne, the highest since November 2014.
“Confirmation that 268 million tonnes of aluminum production capacity in China’s Shandong province was shut down, with the prospect of further cuts, helped lift aluminum,” Sucden Financial Research said in a report.
Zinc reaches its highest level in a decade
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Azovpromstal® 18 August 2017 г. 12:14 |
