Zinc - Market trends and analysis

摘要

Zinc prices extended their two-month long downtrend last week, to reach a low of $1,849/tonne. This means they have fallen in an almost straight line since the February peak of $2,230/tonne - a drop of some 17%. At the end of the week prices did manage to rebound towards $1,890/ tonne, so it may be that the sell-off has run its course. If that is the case, then the fact that prices held above the late October low ($1,813/tonne) and the summer low ($1,745/tonne) during this down-phase is technically significant and could be seen as constructive by traders.