Zinc Jumps Most Since 1989 as Glencore Cuts Spur Metals Rally
- Glencore plans to trim annual zinc production by 500,000 tons
- Copper futures rise 3 percent, the most in more than a week
How Glencore's 'Aggressive Drop' Made It Attractive
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Zinc surged the most since at least 1989 after Glencore Plc, the biggest miner of the metal, said it plans to cut production by about a third.
The metal used to galvanize steel jumped as much as 12 percent. It led a surge in industrial metals from copper to nickel as the reduction in output signaled that some commodity producers are willing to scale back supply to combat declining prices.