Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.
Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply concerns of late after LME zinc stocks kept being reduced," Commerzbank said. "Part of this material is likely to have been transferred to SHFE warehouses in China, as evidenced by the sharp rise in stocks there since the start of the year, [and] because the period of seasonally high demand...