Zinc is one of the best performing industrial metals today, gaining around 3%. Industrial metals are benefitting from expectations that the global economy is making its way out of a crisis, thanks to coronavirus vaccines. Apart from that, industrial metals are being supported by the end of Lunar New Year holiday in China and associated pick-up in industrial activity. When it comes to zinc itself, declining stockpiles are putting upward pressure on prices as well. ZINC opened near 2,900 today - the highest level since May 2019. Near-term resistance to watch can be found at 3,000 - peak from April 2019.
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