SHFE zinc price surges to upper limit; copper up by 3.40%

Bullish sentiment on Thursday October 14, driven by Nyrstar’s announcement of production cuts, has pushed the zinc price on the Shanghai Futures Exchange to its highest level since 2019.

The SHFE November zinc price surged to its daily upward limit (4%) and finally closed at 25,700 yuan ($3,994) per tonne on Thursday.
The surge came after the major zinc producer Nyrstar announced that it would be cutting zinc output due to surging energy costs.

“The price jump is primarily on the back of Nyrstar’s production cuts, which stoked bullish sentiment,” an analyst...

Published

Sally Zhang

Yiwen Ju

October 14, 2021

09:35 GMT

Shanghai