LIVE FUTURES REPORT 12/02: Zinc soars 7% over week; new year-highs for lead, tin, aluminium

Zinc's price rose the most in the London Metal Exchange base-metals complex in the week to Friday February 12, with all metals showing weekly increases of 2% or more, and with new year-to-date highs for copper, lead, aluminium and tin during the day.

Zinc's three-month price rose by 7% throughout the week, closing at 5pm on Friday at $2,834.50 per tonne, its highest since January 8.
The galvanizing metal's closing price on Monday had been of $2,651 per tonne, and it went as high as $2,837 on Friday during trading, approaching its December 21, 2020, high of $2,900 per tonne.
Outflows of zinc from LME warehouses totaled 6,100 tonnes this week, supporting the metal's price rise. Demand was expected to continue to go up when the Chinese New Year holiday ends next week.

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