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Zinc climbs as Glencore says energy crunch puts smelters at risk

From miningweekly.com

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 environment ... (full story)

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  • Category: Fundamental Analysis