Zinc in London Hits Highest Price in Nearly a Month

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.

Click here to read the full Bloomberg report.