Nyrstar closure of two zinc mines bolster LME zinc to surge

Published: Nov 2, 2023 10:33

Source: SMM

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Nyrstar issued a notice late Tuesday that it will close two zinc mines in Tennessee, Gordonsville and Cumberland, on November 30 due to falling metal prices and rising production costs, saying that the mines will "temporarily cease production" and layoffs will occur.

This sent LME zinc prices soaring to a maximum of $2,598.5/mt, the highest since October 2, with an increase of more than 5%.

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