Zinc prices rose to a four-week high on Monday (April 5) as a rapid decline in zinc storage at the London Mercantile Exchange (LME) confirmed warehouses raised concerns about supply shortages.
The 3-month zinc futures contract on the LME exchange last session fell 0.4 percent to $4,323 a tonne. In the previous trading session, zinc price sometimes reached 4,435 USD/ton.
The metal used to coat steel has gained about 23% this year, after rising 28% in 2021 and hitting a record high in March 2022.
Zinc stockpiles at LME warehouses fell to 78,125 tonnes, the lowest since May 2020 and down from about 130,000 tonnes in mid-March 2022.
The LME exchange said it would conduct an independent review of the turmoil in the nickel market last month. UK financial regulators also said they would open a review of the nickel market.

Chile’s copper output fell in February. Copper rose 0.9 percent to $10,441 a tonne, aluminum fell 0.4 percent to $3,437 a tonne, nickel rose 0.4 percent to $33,350 a tonne, lead fell 1.3% to $2,417.50 USD/ton and tin price decreased 1.4% to 44,150 USD/ton. Futures price list of some metals on Shanghai Exchange (Unit: CNY/ton).