Finance > Capital-markets

Zinc steals the show

Zinc has continued to steal the show in the early stages of 2018, and reached another 10-year high on Monday.

Staff reporter

Finance > Capital-markets

Zinc steals the show

Zinc has continued to steal the show in the early stages of 2018, and reached another 10-year high on Monday.

Staff reporter

Zinc steals the show

The zinc price has been bubbling up nicely so far in 2018

The galvanising metal posted a 30% return on the LME in 2017, and it has continued the upward momentum in 2018.
 
The LME cash price was around US$3,405 per tonne in late (UK) trade on Monday, marking a new 10-year high, with the cash seller and settlement price coming in at $3,396 per tonne on the day.
 
Unsurprisingly, stocks tied to zinc rose.
 
In Australia, Nigeria-focused Symbol Mining (AU:SL1) was up 54%, Inca Minerals (AU:ICG), which has a zinc-silver-lead project in Peru, rose 20% and Algerian play Terramin Australia (AU:TZN) rose 14%.
 
In Canada on Monday, Americas-focused HudBay Minerals (CN:HBM) was up 0.17% and Callinex Mines (CN:CNX) rose 7.5%. 
 
Despite the price rise, zinc is still some way off the LME three-month price of $4,600/t reached during the bull run of 2005-2007.

 

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