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Zinc Hits Decade-High as China Data Boosts Metals Demand Optimism

  • Chinese trade data suggests robust demand around the world
  • Most metals gain this week and mining stocks reach 5-year high
A worker uses a fork-lift truck to move zinc ingots around a storage facility at the Chelyabinsk Zinc Plant (CZP), operated by Ural Mining and Metallurgical Co. (UMMC), in Chelyabinsk, Russia, on Monday, March 6, 2017. Russia’s No. 1 zinc miner and No. 2 copper producer plans a far-reaching expansion of its diversified minerals output, billionaire co-owner and Chief Executive Officer Andrey Kozitsyn said in an interview.
Photographer: Andrey Rudakov/Bloomberg
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Zinc prices hit a decade-high Friday on tighter supply concerns before settling lower on the day.

The metal used to galvanize steel posted a fifth straight weekly advance, the longest run in 13 months. Most metals gained on the week, with aluminum jumping 1.8 percent Friday as Chinese trade data increased optimism on demand. Higher prices helped a gauge of mining stocks reach the highest in almost five years.