The London Metal Exchange (LME) zinc futures rose for a second consecutive day to US$2,876.5/ton yesterday (September 9), hitting a new five-month high, driven by a weakening US dollar and a significant drop in LME inventories.

The price reached an intraday high of US$2,889/ton, closing at US$1,876.5/ton, up by US$15.5. The increase totaled US$33, a rise of 1.2%, over the past two days.

Meanwhile, LME zinc inventory fell to 53,075 tons, a decrease of 975 tons from the previous day. So far this year, the drop has reached 51,725 tons, a 49.3% reduction compared to the figure at the end of last year. This substantial decline in supply supported the recent zinc price.