Zinc Surges as Trafigura-Owned Smelter to Halt Production
- Prices surged more than 7% on LME after Nyrstar announcement
- Nyrstar’s Budel smelter is one of Europe’s biggest zinc plants
Nyrstar’s Budel zinc smelter in the Netherlands.
Source: NyrstarThis article is for subscribers only.
Zinc surged after one of Europe’s largest smelters said it would halt production next month as the continent’s energy crisis threatens to hobble heavy industries.
The Budel smelter in the Netherlands -- controlled by Trafigura Group’s Nyrstar -- will be placed on care and maintenance from Sept. 1 “until further notice,” according to a company statement. Zinc trading on the London Metal Exchange jumped as much as 7.2% to the highest intraday level in two months as traders priced in even tighter supply.