Zinc price touches a near 14-year high as Nyrstar slashes output

  • 10/13/2021
  • Source: Mining.com
  • by: MINING.COM Staff Writer
Zinc price touches a near 14-year high as Nyrstar slashes output
Zinc price touched a near 14-year high in Shanghai while in London it jumped the strongest in over three-and-a-half years after Nyrstar said it will cut production by up to 50% at its three European zinc smelters due to the soaring price of electricity.

Click here for an interactive chart of zinc prices

“The cost burden of carbon emitted by the electricity sector which is passed on to industrial and domestic customers, mean it is no longer economically feasible to operate the plants at full capacity,” Nyrstar said.

“Indirect cost compensation for energy-intensive producers to protect their competitiveness versus non-EU producers varies by European country and this puts Nyrstar’s Budel, Balen and Auby plants at a competitive disadvantage, compounding the impact of extreme energy prices.”
DYNAMIC WEALTH RESEARCH

Analysis and insights into the newest trends and industries shaping the world and your wealth.

The world is more dynamic than at any time in History.
New Markets are opening up. Technology is accelerating. It’s changing everything.

And creating fortunes in the process.

Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
SHARE DYNAMIC WEALTH RESEARCH
© 2016 - 2021 DYNAMIC WEALTH RESEARCH, Privacy Policy, Disclaimer