Zinc and nickel dominate the metals market

On the London Metal Exchange, nickel rose 0.7 percent to $ 18,880 a tonne, while zinc rose 15 percent to $ 2,359 a tonne.

Compared to the data presented this week in London, zinc prices may in the near future rise within the range of $ 2,500 - $ 2,700 per ton. According to experts, the price of nickel could rise to $ 23,000 per ton. These metals are in demand in many industries. They are also widely used in the manufacture of devices such as inductive sensors . Experts are concerned about the market situation and believe that the sudden rise in prices may still be due to Indonesia's ban on the export of raw materials.

Nickel has beaten all other base metals this year after the ban on exports from Indonesia, while zinc has followed on the heels and was in second position due to severe shortages of this element. Commodity indices have dropped and the hedge fund is planning to stop accepting additional funds from new investors in the amount of $ 500 million.

Experts say the market may crack by the middle of next year. Lack of zinc reserves in warehouses and the planned shutdown of the mine of the century MMG, located in Australia, could also exacerbate this process.