Zinc for November delivery traded on the Shanghai Futures Exchange rose 8% to 27,720 CNY. Three-month zinc on the London Exchange rose 1.1% to $3,835 a tonne, after gaining a record 20.4% last week.
Zinc prices in Shanghai rose 8% on October 18, as investors worried about supply shortages amid production cuts due to rising electricity prices in Europe.
The November 2021 zinc contract traded on the Shanghai Futures Exchange rose 8% to 27,720 yuan ($4,305.62) a tonne.
Three-month zinc on the London Exchange rose 1.1% to $3,835 a tonne, after gaining a record 20.4% last week – the highest level since June 2007.
Last week, Belgium-based Nyrstar said it would cut production by up to 50% at three zinc smelters in Europe, and Glencore, which has three plants in Europe, also said it was working “manufacturing adjustment” to save energy and reduce costs
On the London floor, copper prices rose 1.7 percent to $10,452.50 a tonne, the highest since May 18 and just 2.7 percent below the record high of $10,747.50 a tonne.
On the Shanghai exchange, copper prices rose to a high not seen since May 13 to CNY 76,700/ton.
Copper stocks at London warehouses fell to 14,150 tonnes – the lowest since 1998, while copper stocks in Shanghai were at their lowest since June 2009 at 41,668 tonnes.
Aluminum prices traded on the Shanghai bourse rose to CNY 24,700 a tonne – a high not seen since May 2006 and London aluminum prices rose 0.5% to $3,186 a tonne. In the previous session, aluminum price reached 3,215 USD/ton – the highest level since July 2008.

China’s aluminum output in September 2021 fell for the fifth consecutive month due to power shortages. Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton).