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Vulcan
Zinc November 10, 2014 07:51:39 AM

Zinc rises in the global market, with an increase in demand from US and China

Paul Ploumis
ScrapMonster Author
On the third day, zinc advanced further, as the demand from the top consumers of zinc, China and US have increased.
Zinc rises in the global market, with an increase in demand from US and China

LONDON (Scrap Monster): In London the demand for zinc rose about 0.3 percent. According to the custom administration of China, the exports of zinc to the Chinese ports have increased about 11.6 percent compared to the last year’s export rate, 10.6 percent higher than the  median rate.

The senior analyst, as well as the founder of Mine Life Pty, located in Sydney, Gavin Wendt, stated that, as both US and China, are now showing a positive momentum, all of them are now looking forward to these two countries. The investors are not expecting foe a bad news now.

In Honk Kong, the price of zinc rose 0.3 percent to 2,251 dollars per tonne. The reason for the sudden hike in the price of zinc is noted to be because of the increase in demand for zinc in US as well as in China. The  consumption of zinc increase in both the countries, due to the development of zinc based industries.

The increase in demand of zinc is not expected to slow down in the both the countries. Hence there is still chances of increase in the price of zinc in the global market.