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Zinc and nickel rise at LME on China steel industry crackdown-18th China(Guangzhou)Int¡¯l Non-Ferrous Metal£¨Copper£©Exhibition
5/24/2017 Copper exhibition -non-ferrous metals expo |
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Reuters reported that zinc and nickel touched their highest in over two-weeks on Monday after China launched a regional crackdown on the steel industry, including production of the two metals. Benchmark zinc on the London Metal Exchange rose 1 percent to USD 2,641 per tonne, its highest since May 2 while nickel hit its highest since May 3, up 0.6 percent to USD 9,415.
Copper had edged down 0.1 percent to USD 5,688 a tonne, having hit the highest since early May at USD 5,694.50 on Friday. Aluminium was up 0.2 percent at USD 1,939.50, lead gained 0.9 percent to USD 2,113 and tin added 0.7 percent to USC 20,550.
The Chinese government is becoming quite aggressive in targeting environmental problems. China''s Tangshan city launched a campaign to improve air quality last week, saying steel mills in the country''s top producing region that fail to meet emission standards face suspension and heavy fines.
-18th China(Guangzhou)Int¡¯l
Non-Ferrous
Metal£¨Copper£©Exhibition
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