Zinc - Market trends and analysis

摘要

Zinc managed to put in a base in recent weeks and avoided following copper down into multi-year lows. Indeed zinc even avoided moving below the late-October low at $1,812.50/tonne, the low two-weeks was $1,816.50/tonne and prices held well above last's summer's low at $1,745/tonne. Quite why zinc prices have managed to hold up remains a mystery as the metal's fundamentals are not strong and even though prices have dipped into the marginal cost curve, there seems to have been little response from producers.