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Zinc climbs as Glencore says energy crunch puts smelters at risk
Zinc neared a one-month high while other metals came under pressure in London, with top producer Glencore warning that Europe’s energy crisis poses a substantial threat to supply. Glencore has already suspended production at one of its zinc smelters in Europe, leading to a sharp drop in its metal output this year, and on Thursday it disclosed that its other smelters in the region are barely turning a profit. While risks to industrial-metals demand are mounting, Europe’s power crisis is also weighing heavily on the supply outlook, Glencore said. “On the supply side, the current energy supply and price ... (full story)
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- Posted: Aug 5, 2022 6:03pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 108
