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Zinc Rebounds to a Five-Year High Amid Signs of Tight Supplies

  • Glencore zinc output drops 30% in first nine months of year
  • Nickel also rises with other industrial metals in London
Updated on

Zinc rebounded with other industrial metals and touched a five-year high amid signs of tight ore supplies.

Glencore Plc’s zinc output in the first nine months was 30 percent lower than a year ago, the miner said Thursday. The company’s announcement Monday that it will shut a mine in Australia will further reduce supplies, Karvy Comtrade Ltd. said in a note. The metal is up 55 percent this year, the best performer on the London Metal Exchange, on depleting mines and cutbacks.