IO demand is all time highs, making lots of steel, needing a bunch of glavanizing... simplistic, maybe valid? stockpiles getting decimated, someone is consuming, consumption is demand there's a reasonable argument to say zn price could stay steady with TC's dropping, which net improves returns or, your scenario, TC's will remain at all time highs for the foreseeable future and there's no zinc demand, so any increase in smelter output will catapult stockpiles back to 400-500kt do any mines shut down in your low zinc, high TC scenario? that would obviously depress conc supply there's a number of combinations obviously... see what happens over the next 12-18months
NCZ Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held