A A ALondon Metal Exchange (LME) zinc futures surpassed US$3,900 intraday on August 26, touching a peak of US$3,949.50 before closing at US$3,893 and reaching a four-year high with a 24.9% growth for the year. This rally was driven by tight supply conditions, reflected in a US$199 premium for spot over futures.
Higher international zinc prices have benefited Taiwan Steel Union, a manufacturer and trader of zinc oxide and non-metallic mineral products in Taiwan, despite a 10.09% decline in first-half zinc oxide shipments to 22,098 tons.
Supported by higher metal prices, the company reported a first-half net profit of NT$486.09 million, representing a 38% year-on-year increase, with earnings per share (EPS) at NT$4.37.