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Base Metals Surge as Energy Crisis Knocks Out More Supply

  • Zinc soars most in six years as Glencore cuts output
  • Commodity rally is adding to fears about persistent inflation
Bound aluminium ingots sit stacked outside the cast house unit of the Vedanta Ltd. Aluminium Smelter in Jharuguda district, Odisha, India
Photographer: Dhiraj Singh/Bloomberg
Updated on

The world’s most crucial metals continued on a breakneck surge as energy shortages forced more production cuts and piled pressure on manufacturers, fueling concerns about inflation.

Producers of metals from zinc to aluminum and steel are restricting output due to power restrictions or rising energy costs that are outpacing surging metal prices. The latest victim was one of the top zinc producers Glencore Plc, with production at its three European plants being cut because of surging power prices.