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Zinc Dropped As Glencore’s Nordenham Zinc Smelter Starts Ramping Up Output.
Zinc experienced a decline of -1.36%, settling at 217.95, influenced by developments in production and economic indicators. Glencore (LON:GLEN)’s resumption of production at its Nordenham zinc smelter after more than a year of care and maintenance weighed on market sentiment. The halt in production in 2022, along with other European smelters, due to surging power prices following Russia’s invasion of Ukraine, had disrupted supply dynamics. However, in China, industrial output surpassed expectations, growing by 7% annually over January and February, indicating resilience in the manufacturing sector.
