This is no doubt a bullish factor. Copper, lead and zinc are the three metals that are suffering supply disruption from strike action.

Supply isn't going up as much as demand so the prices of metal, especially that of copper and zinc, are going up.

Zinc is catching it -- it was the laggard in the metals.

The zinc market is going to become as tight as copper. Every speculator is buying zinc now.

Overall the sentiment in the metals is still very bullish and it is hard to see this changing in the near term.

The situation between Russia and Ukraine is a rather (supportive) factor for oil ... as the potential for (gas) supply disruption in Europe is having a correlating effect on other energy commodities including oil.