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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
METALS
- Zinc reached its highest level since 2007 and aluminum surged to a fresh record, as industrial metals extended higher, price action continuing to be exacerbated by trade turmoil and the increasing economic isolation of Russia.
- Prices for zinc, used to coat and protect steel, rose significantly on the London Metal Exchange to reach $4,028 a ton, closing at $3,920.50 a ton at 5:51 p.m. in London. Additionally, nickel surged more than 8% and copper closed in on an all-time high. (BBG)
- As well as futures prices continuing to accelerate, the premiums that consumers pay to obtain metal in Europe have also jumped, intensifying the inflationary strain on manufacturers.
- “Zinc has been slower to price in the supply risk, and to an extent it’s true across the board,” Eoin Dinsmore, head of base metals demand and markets research at CRU Group said in a phone interview with Bloomberg. “Metals are still just waking up to the problems this could cause.”
[LME Zinc Cash ($) as of 03/02]
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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