Friday, January 4, 2008

Shanghai Zinc Jumps By Daily Limit After LME Soars

SINGAPORE, Jan 4 (Reuters) - Shanghai zinc futures rose by their 4 percent daily limit on Friday, after London futures jumped 5 percent on strength in other industrial metals, gold and oil.

The March zinc contract, the most active on the Shanghai Futures Exchange, rose 775 yuan from Thursday's settlement, to 20,160 yuan a tonne, but zinc for delivery in three months on the London Metal Exchange drifted down $35 at $2,540 at 0113 GMT after rallying $124 on Thursday.

Shanghai copper also hit its upside limit as investors pushed back into industrial metals, encouraged by record highs in oil and gold.

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