THE OUTLOOK FOR ZINC

摘要

Through the 1990s zinc was the steady market. With the exception of ten months of volatility in 1997, monthly average zinc prices remained in the 0.45 dollars-0.55 dollars/lb range. But in April 2001, prices slipped below 0.45 dollars/lb and kept sliding until they found a tenuous balance at about 0.35 dollars/lb, where they have been ever since. The 2002 average LME zinc price decreased 13 percent to 0.35 dollars/lb from the 2001 average of 0.40 dollars/lb, as LME zinc stockpiles rose 50 percent to 651,100 mt. Prices were stable between 0.33 dollars/lb and 0.37 dollars/lb throughout 2002, despite the rise in LME stocks. At year-end, prices were at the 0.36 dollars/lb level. In January 2003, average prices slipped half a cent to 0.354 dollars/lb. A 27,400-mt increase in LME zinc stocks illustrated that the market was still in serious surplus. In February, the market was quiet.