LME zinc price surges to 16-year high
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Update time : 2022-04-14 19:58:51
The London Metal Exchange (LME) price was up by 2% to US$4,462/ton yesterday (April 13), hitting a 16-year high. Besides, the LME zinc inventory has reached a new low since June 2020, at 117,850 tons. Therefore, zinc is likely to be the next metal to face volatility after nickel.
It was reported that commodity trader Trafigura is taking large amounts of zinc inventories from the LME’s warehouses in Asia, in order to make up the supply gap caused by the production cut in Europe, thereby leading to continuous destocking of LME inventories and boosting zinc prices to continue rising.
