By Zinc holds near one-year high as inventories shrink
Zinc prices on the London Metal Exchange (LME) remain firm around US $3,100 per tonne, hovering near their highest levels in almost a year.
LME warehouse stocks have fallen sharply, reaching their lowest point since early 2023, signalling tighter global supply.
Traders note stronger demand from galvanizing and alloy sectors, while smelter maintenance in Asia and Europe has limited output.
Outlook: Short-term sentiment stays bullish, with spot premiums expected to edge higher in the Middle East and Asian markets.
Aluminium climbs to three-year peak on supply concerns
Aluminium prices touched US $2,920 per tonne, the highest since mid-2022, driven by rising energy costs and expectations of production curbs in China.
A softer dollar and steady demand from packaging and transport sectors also supported the rally.
Outlook: Analysts expect prices to consolidate at higher levels as smelters face cost pressures and global inventories tighten, especially in the Gulf and Asian hubs.
Middle East traders brace for firmer premiums and extended delivery lead times.
