Zinc in London Enjoys Third Day of Gains

Bloomberg reported that zinc in London was up Sunday for the third day in a row following economic data indicating “improved demand prospects in China and the U.S.,” both of which are top industrial metals consumers.

As quoted in the market news:

Zinc in London rose as much as 0.6 percent. China’s exports increased 11.6 percent from a year earlier, the customs administration said Nov. 8, more than the 10.6 percent median estimate in a Bloomberg News survey of economists. In the U.S., the jobless rate fell to 5.8 percent, the lowest in six years, official data showed last week. China’s factory-gate prices fell for the 32nd straight month, the National Bureau of Statistics said today.

Zinc for delivery in three months on the London Metal Exchange rose 0.3 percent to $2,251.25 a metric ton at 3:04 p.m. in Hong Kong.

Click here to read the full Bloomberg report.