Prices
May 23, 2017
LME Zinc Bouncing Off May Lows
Written by Sandy Williams
Zinc prices continue to rise, reaching a two week high of $2,644 per tonne on Monday, May 22 on the London Metal Exchange (LME).
Analysts attribute the increase to China’s regional crackdown on the steel industry as it seeks to bring mills in line with emission standards, as well as mine closures that are creating shortages.
Low inventory at LME warehouses are at 2009 levels, down 20 percent this year to 342,675 tonnes.
Kitco shows the 30-day spot price at $1.179 per pound on May 20 and trending above $1.19 mid-morning May 23.
