METALS-Zinc touches new decade peak on tight market [Reuters]
Alcoa Corporation (AA)
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Source: Reuters
METALS-Zinc touches new decade peak on tight market | Reuters Reuters Staff 3 Min Read * GRAPHIC-2017 asset returns: tmsnrt.rs/2jvdmXl * LME/ShFE arb: bit.ly/2wZSAEz (Adds comments on aluminium, updates prices) By Eric Onstad LONDON, Jan 12 (Reuters) - Zinc prices edged up to their highest in more than a decade on Friday, supported by potential shortages and low inventories, but some investors voiced concern about the lofty levels. Benchmark zinc on the London Metal Exchange rose to $3,409 a tonne, the strongest since August 2007, and was up 0.2 percent at $3,393.50 at 1510 GMT. Zinc has rallied 11 percent since early December and was the top gainer among LME metals last year, surging 32 percent. “Global exchange inventories have declined to about six to seven days of global consumption, so stocks are tight, and China’s environmental checks will continue, so that will limit supply growth domestically,” said Xiao Fu, head of commodity market strategy at Bank of China International in
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