Zinc price rallies as traders unwind bearish bets on better outlook

Risk assets are getting a boost from some less hawkish Federal Reserve commentary, and from moves by China to bolster its sinking stock market.

After just missing out on succeeding Ivan Glasenberg at Glencore, Kenny Ives is now running the trading arm of CMOC Group.

Russian copper exports to China and expectations of surpluses have emboldened Chinese buyers to try and dictate how much they will pay Codelco for the industrial metal next year.

Researchers emphasized that many mines set to close soon don't have plans for future operations or transitioning to a post-coal economy.

Fitch Solutions is revising down its 2023 average annual copper price forecast as US dollar strength and market fears of another US Fed rate hike places a cap on price growth.

"Our two venues have opened a new chapter of close cooperation and we intend to further deepen our collaboration in 2024," says LME CEO.

The tech products we take for granted in our modern lives remain highly vulnerable to disruption.

China's largest copper buyers expect to pay a premium of around $90 per metric ton next year.

Prices for zinc are down 16% so far this year following last year's slump in demand from China.