Zinc, Nickel Extend Advance to 11-Month Highs on Economic Data

LONDON, Aug. 5 -- Zinc and nickel gained for a fifth day, climbing to 11-month highs after better-than-estimated U.S. housing data added to signs the global recession is easing, boosting demand prospects for industrial metals.

    Zinc for delivery in three months on the London Metal Exchange added as much as 2 percent to $1,890 a metric ton, the highest since Sep. 15, and traded at $1,871 a ton at 9:20 a.m. in Singapore.

    Three-month delivery nickel added as much as 1.8 percent to $19,699 a ton, the highest since Sep. 4, before trading at $19,650 a ton.

    (Source: Bloomberg)