Metals head for record; zinc prices spike to 14-year high, shows data

Strains in China are particularly evident, where factory-gate prices rose at the fastest pace in almost 26 years in September

Base metals surged, led by zinc, which spiked to the highest since 2007, after European smelters became the latest casualties in a global energy crisis that’s knocking supply offline and heaping pressure on manufacturers.

Zinc rose as much as 6.9 per cent on the London Metal Exchange, and a gauge of six industrial metals rapidly closed in on an all-time high. Aluminium, one of the most energy-intensive commodities, is at the highest since 2008. Copper bounced closer to the $10,000-a-tonne mark, and spreads are pointing to a sharply tighter market — spot copper contracts are trading at the biggest premium over