US Federal Reserve’s Kevin Warsh warns there will be ‘work to do’ unless high inflation eases – as it happened

Rolling coverage of the latest events in global financial markets, the economy and major corporate moves In the metals market, supply fears have pushed the zinc price up to a four-year high. Zinc, which is used to galvanise steel, hit $3,955 a metric tonne this morning, its highest since May 2022. LME [zinc] inventories have been drawn sharply lower, mine and smelter disruptions have restricted refined availability, and supply outside China has become notably tight. With consumers facing a thinner pool of immediately available units, relatively modest buying has produced a larger price response than elsewhere in the complex. Copper remains supported by the same availability concerns. Continue reading...