Zinc rises for the third day ahead of a looming supply shortage

Zinc rose for a third straight day as the market faces the biggest supply shortage in decades, while other metals recorded mixed performance ahead of key trade talks between the United States and China. Spot zinc rose 0.3% to $2.996 a tonne on the London Metal Exchange at 11:30 am. Shanghai time, as traders scrambled to acquire supplies as smelters cut production and swap inventories fell to their lowest levels since 2023. One – it has stayed close to unusual highs since, hitting $25 per 0 yesterday and reaching $25 per 0. Industrial metal prices have fluctuated in recent weeks due to swings in hopes of a trade deal between the United States and China, in addition to growing uncertainty over the outlook for high-risk assets. Investors are cautiously awaiting an expected meeting next week between US President Donald Trump and his Chinese counterpart Xi Jinping. Also Read: A Joint Rise in Base Metal Prices Ahead of Trump-Xi Meeting. Although Trump expected that a “good deal” would be reached, he also said there was a possibility that the talks would not be held. The limited moves today also reflected the broader state of deliberation in high-risk markets, after Asian stocks fell yesterday in line with losses by their US peers amid investors’ assessment of escalating trade tensions, in addition to the US government shutdown and heightened volatility in precious metals markets. Copper fell 0.1% to $10,613 a tonne, after falling this week from a level near its record peak set earlier this month, while both lead and tin recorded slight gains.