Zinc--Weak macro economic outlook brings the metal under pressure

摘要

Metals market was under pressure during May with macroeconomic events across the globe suggesting slowing industrial demand. Bearish sentiment prevailed across the base metals complex. Zinc for 3 month delivery on London Metals Exchange dropped to $2048 per MT, but recovered during the latter half ofthe month after International Lead and Zinc Study Group reported global zinc surplus to reduce during 2011. Zinc settled at$2265 per MT in May, unchanged from the previous month. Other base metals, such as copper and aluminium settled with loss in May losing 1.52% and 3.74% respectively.