Its more than likely zinc will bounce again,question is to what level,and to what level it will finaly settle.
Imo I think somewhere between $1.30 and $1.50.
$1.20 is factoring out the strong demand by too much imho.
But I think you are spot on with your comments re the stockpile drawdown.All you have to do is look at how the rate of drawdown has halved as of late.
As you say this will not remedy itself until zinc drops to a level that zinc consumers are happy with,and then demand should accelerate again.Thats unless those crafty Chinglee have been stockpiling at cheaper prices all along of course!
d.
ZFX
zinifex limited
