zinc price

1052 [Dow Jones] Teck Cominco (TCK), Xstrata (XTA.LN) decide to shut Australia's Lennard Shelf zinc-lead mine because of low metal prices, AUD gains. Mine needs zinc price of around $2,200/ton to operate economically, closure calls other operations into questions. But possible further shutdowns unlikely to remove mine supply overhang in zinc market, analysts say, but should provide some floor under market. LME zinc prices more than halved from over $4,000/ton in 2007, lead prices similar, while cost pressures in increasing. LME 3-month zinc at $2,000, down $5 vs PM kerb. (EFB)