This is the last paragraph - :-) "Zinc prices have taken off...

This is the last paragraph -

"Zinc prices have taken off after the closure of several large mines since late last year and final Chinese trade data on Thursday highlighted the shortages, showing imports of refined zinc jumped 65 percent in June."

LONDON, July 21 (Reuters) - Nickel hit a 10-month peak on Thursday and zinc touched its highest in 14 months as speculators kept buying, but analysts cautioned that rallies are vulnerable to corrections.

A softer dollar and higher risk appetite also supported the industrial metals complex.
"I doubt that the most recent price increases are lasting, given that there is a relatively high amount of speculative money in the market," said Daniel Briesemann, an analyst at Commerzbank in Frankfurt.

"I would expect a short-term price correction for almost all the base metals, but later I think prices can go higher again because of the mostly tight fundamental situation."
Benchmark nickel on the London Metal Exchange (LME) surged to a peak of $10,900 a tonne, its strongest since Aug. 11 last year, and closed with a 1.7 percent gain at $10,760.
Investors have been bullish on nickel because of tighter supplies after top ore exporter Philippines launched an environmental crackdown on mines.

While the likelihood of the Philippine nickel industry being completely shut down is low, the amount and the importance of the supply source at risk warrants a substantial premium, ANZ said in a note. It expects nickel prices to push towards $12,000.

The Philippine mining minister has asked Nickel Asia Corp to stop shipping nickel ore from an island to China, citing environmental concerns, but the company said on Thursday that it expects any impact to be limited.

LME zinc finished 0.4 percent up at $2,254 a tonne after touching $2,294.50, the highest since May 18 last year.

Zinc prices have taken off after the closure of several large mines since late last year and final Chinese trade data on Thursday highlighted the shortages, showing imports of refined zinc jumped 65 percent in June.

http://www.dailymail.co.uk/wires/re...ckel-touch-new-peaks-speculators-pile-in.html