Zinc Prices Retreated On Tuesday

Zinc prices retreated on Tuesday after hitting their highest in more than two weeks as investors sought to balance concerns about tightening supplies with uncertainty over Chinese demand. A steady stream of news has encouraged the bulls recently, including a talk of a market deficit, an expected strike in major producer Peru and declining inventories.

But monetary tightening in China has stoked worries about the appetite for industrial metals in its biggest market. Prices received a fillip on Monday from news that about a dozen newly constructed nickel smelters in Indonesia have stopped operations because of a plunge in prices.

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Suhani Verma

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