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Zinc prices have nearly doubled over the past 13 months, but signs of tightening in the global market for refined zinc means the rally may have further to run. Investors, however, are cautious ahead of Trump's speech at a joint session of U.S. Congress at 9 p.m. (0200 GMT Wednesday). World stocks hovered just off all-time highs after Trump met U.S. state governors at the White House on Monday and said he sees "big" infrastructure spending. Losses in copper were shallow due to persistent concerns over supply from large mines in Chile and Indonesia. A strike at the Escondida copper mine in Chile, the world's largest, appeared far from ending on Monday as the conflict neared its third week. Elsewhere, shareholders are pressuring miner Freeport-McMoRan Inc to stand up to the Indonesian government over changes the Southeast Asian country wants to make in the U.S. miner's contract, with output halted at a giant copper mine.