MARKET TALK: LME Zinc Near Highs As Speculators Buy

LME three-month zinc holds just below the record high seen Wednesday as speculative interest continues to provide light support, a broker says. Strong fundamentals and gains in crude oil futures are combining with steady commodity trade advisory interest, he adds. "The sky's the limit for zinc prices, although gains on the upside will probably run into selling from trade players and funds taking profits," notes broker. LME zinc trades last at $4,120/ton, up 6% from Wednesday's low of $3,905/ton and just off the all-time hgh of $4,145/ton.