According to the report, LME copper prices recently surged to US$14,700, setting a new record high, while zinc futures prices also continued to rise above US$4,000, reaching their highest level in over four years. This will benefit Taiwan Steel Union, whose main product is zinc oxide.
Some market participants noted that concerns about Fed rate hikes have slightly eased, leading to a weakening of the US dollar. This has contributed to a general increase in base metal prices, including zinc.
Taiwan Steel Union has already sold out its zinc oxide supply for this year. Influenced by international zinc prices, its selling price is expected to rise accordingly, which will also positively impact its zinc waste treatment business.