London, March 20, 2007 – Zinc prices rose Wednesday as warehouse inventories on the London Metal Exchange (LME) hit a new low since October 2007, but prices of other industrial metals fell due to uncertainty in global demand.

Despite weak economic data from China, a major consumer of metals, low inventories of many metals in warehouses registered on the London Metal Exchange are helping to boost prices, said Ross Strachan, a senior macrocommodity economist at Kaishou.

“Understandably, as the market speculates that a trade agreement will be reached, stock on the exchange is at a very low level, which makes many market participants uneasy about the prospects,” he said.

Some analysts said investors betting that the U.S. Federal Reserve (FED / Federal Reserve) would issue a pigeon statement later Wednesday might also support prices to some extent.

Indicator zinc was the metal with the largest increase in LME, closing up 1.6% at $2,863 per ton.

LME zinc stocks fell 55% this year, reaching their lowest level since October 2007, and LME nickel stocks fell to their lowest level since June 2013, according to data released Wednesday by LME. However, China has more stockpiles.

LME nickel did not close at the end of the day. The final offer was $13,200, up 0.1%.

LME aluminium hit a three-month high of $1,951.50 a tonne, then fell below the level to close 0.5 per cent lower at $1,937.

U.S. President Trump said Wednesday that a trade agreement with Beijing will be reached and U.S. trade negotiators will soon travel to China.

Three-month copper closed down 0.03% at $6,457 a tonne.

Tin rose 0.5% to $21,375.

期铅收高0.3%，报每吨2,044.50美元。

Lead futures rose 0.3% to $2,044.50 per ton.