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Industrial metals set to end 2016 with stellar gains
Industrial metals on the London Metal Exchange have had one of their best years in recent history as receding worries about demand and expectations of tighter supplies fuelled a buying spree that took zinc prices to nine-year highs.
Zinc is on course to end 2016 up about 60%, tin 43 % and copper 17 %, its first annual rise since 2012.
Markets started the year on a sombre note due to weak demand growth in top consumer China and massive supply overhangs. Over the course of 2016 the mood brightened as Chinese authorities pumped money into the economy, much of it into infrastructure.
That was reinforced by optimism about growth after Donald Trump won the U.S. Presidential election in November, providing another reason for funds to jump on the bandwagon.
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