Zinc advanced to the highest level in more than four years on signs of tightening supply, building on a months-long rally. The metal used to coat steel rose as much as 2.5% to trade at $3,980.50 a ton on the London Metal Exchange before paring some gains. A number of factors have propelled prices higher recently, from war in the Middle East choking off Iranian ore supplies to production disruptions at mines.

Recent market data indicates that supply constraints are driving the price surge, with geopolitical tensions in the Middle East significantly impacting ore availability. Production issues at major mining operations have further limited output, contributing to the tight market conditions. Traders are closely monitoring the situation as the rally continues to build momentum.