The issue with zinc is that a couple of majors could smash the market with supply if they wanted to (latent supply) and Chinese stockpiles is a big unknown. So it's a case of letting spot price lead us but being aware of the risks, which are underrated by many from what I can tell. The zinc complex is not the same as lithium, for example, where bullish price action has been necessary to ration supplies. For zinc, the dynamic is more a question of the major players looking for a sweet spot where the combination of price and their latent stock makes it worth bringing supply back online.
