News & Features, Resource News, Zinc
Glencore tightens grip on global zinc industry
By Mineweb · May 17, 2012 · 2:48 am · Leave a Comment
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By Maytaal Angel and Harpreet Bhal
Commodity trader Glencore is tightening its grip on the global zinc market by moving material to inaccessible locations, forcing industrial users to pay high physical premiums for a metal that is in surplus.
The matter is under scrutiny because Glencore, which controls 60 percent of the world’s zinc trade, is using warehouses monitored by the London Metal Exchange (LME) to stow away the metal and support premiums, sources told Reuters.
