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Zinc: supply problems push price to 15-year highs
Zinc prices surpassed $4,000 per tonne, reaching a 15-year high last week ($4,861/mt on 8 March 2022), as rising energy costs and supply concerns boosted the metal’s market. Zinc production requires the smelting of zinc ore, which is energy intensive. As a...
Nickel: price chaos continues on Lme
The London Metal Exchange temporarily froze electronic trading in nickel after restarting from a week-long suspension, as a glitch allowed prices to fall beyond a new daily limit (5%) that was supposed to help restore order after last week’s historic short...
Nickel: false opening for trading on Lme exchange
On March 16, 2022 LME reopened the nickel market at 9 am Italy. When the market opened, the uncrossing algorithm discovered an opening price of $45,590 (which was the lower limit of the daily price, i.e. 5% below the prices published in Notice 22/067). The LME...
Hrc steel: Chinese production falls to 3-month lows
In the first week of March, total hot-rolled coil (HRC) production of China's 37 major steel producers hit a 3-month low at 2.95 million tons, mainly because some steel mills in northern China were subject to production restrictions during the Winter Paralympics on...