Aluminium, Zinc Prices Continue to Rise

Aluminium and zinc prices climbed on Tuesday, with buying spurred on by concerns over supply disruptions because of prolonged high power prices, while industrial metals in general were boosted by a weaker dollar.

Benchmark aluminium on the London Metal Exchange (LME) was up 1 percent at $2,836 a tonne, having gained more than 40 percent last year. Zinc, meanwhile, added 1.6 percent to $3,590 after a 28 percent rise in 2021. "The power story and shortages (of aluminium and zinc) are going to be with us for a while," a metal industry source said. "Inventories are already low and more metal is due to leave (LME-registered) warehouses."

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