MONEY MASTER

Zinc prices soared to a 20-month intraday high on the London Metal Exchange (LME) after major producer Teck Resources Ltd reduced its output forecasts due to a fire at its Trail smelter in Canada. This incident has heightened supply concerns amidst a backdrop of mine disruptions . Three-month zinc futures surged by as much as 4.5% to US$3,284 (RM14,294) per tonne on the LME before settling at US$3,188 per tonne , still reflecting a 1.54% increase . Teck announced that refined zinc production this year could be up to 12% lower than previously anticipated, equating to a 40,000-tonne reduction . While this is small compared to the global market's 14 million tonnes, it has added to growing concerns about supply. Zinc has been one of the top performers on the LME this year, gaining about 20% following numerous supply disruptions. The backwardation in the zinc market—where spot prices exceed futures—has further underscored the tightness in supply. The spread between cash cont...

  China's largest stimulus package in years has buoyed the commodities market , particularly iron ore, copper, and zinc , as investors anticipate the potential for further gains when mainland markets reopen on Tuesday . The measures, aimed at reviving the property market , have sparked optimism among industry delegates attending LME Week in London, though some analysts caution it may be too soon for celebration. Despite previous limited efforts to stimulate the economy, Beijing’s latest flurry of announcements at the end of September signals a more aggressive approach . This, coupled with monetary stimulus , fiscal spending commitments, and property market stabilization , has driven a spectacular rally in Chinese stocks. Iron ore has surged over 25% since Sept 23, with industrial metals like copper and aluminum also performing well. Global mining giants , including BHP Group and Rio Tinto , have seen their share prices rise amid this optimism. However, analysts stress the nee...