Zinc hits 14-year high as Nyrstar cuts output on rising power costs

From financialpost.com

Zinc prices hit their highest in 14 years on Thursday after producer Nyrstar announced a plan to cut its output amid higher power prices in Europe. The most-traded November zinc contract on the Shanghai Futures Exchange surged as much as 8% to 25,700 yuan ($3,993.66) a tonne, its highest since October 2007.Three-month zinc on the London Metal Exchange jumped as much as 6.9% to $3,637.50 a tonne, a level unseen since July 2007. Nyrstar said it would cut production by up to 50% at its three European zinc smelters from Wednesday.Electricity prices have reached record highs in recent weeks, driven by power shortages in ... (full story)