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Bloomberg reported that London zinc prices rose to their highest level in nearly a month on the back of expectations that the strengthening economy will prompt demand for the metal as supply drops.
Bloomberg reported that London zinc prices rose to their highest level in nearly a month on the back of expectations that the strengthening economy will prompt demand for the metal as supply drops.
As quoted in the market news:
Stronger U.S. growth this year and next will help the global economy withstand weaker recoveries in emerging markets including Brazil and Russia, the International Monetary Fund said in a report today. Refined supplies will fall short of consumption by 117,000 metric tons this year, the International Lead & Zinc Study Group said in a report April 3. Inventories tracked by the London Metal Exchange fell 12 percent in 2014.
Zinc for delivery in three months gained 1.2 percent to $2,026 a metric ton at 5:13 p.m. in London, after touching $2,028, the highest since March 11.