SUPPLY--Miners Suspend Operations

摘要

Global primary finished zinc supply is expected to grow at 2.1% and market supply is anticipated to be in surplus of 60kt in 2020 as COVID-19 freezes industrial activity and weakens demand. However, with treatment charges close to US$300/t agreed by Teck and Korea Zinc, high-cost miners may face increasing pressure to shutter operations, reducing the surplus. In addition to high treatment charges, the outbreak of COVID-19 has resulted in government mandated quarantine periods for numerous minders who have curtailed production in compliance.