this has calmed me down a lot !..... lesson to be learnt don't panic at the first article you read!
Adds closing prices)
By Maytaal Angel
LONDON, Dec 12 (Reuters) - Zinc prices rose on Tuesday after
miner and trader Glencore held its output forecast
steady for next year, disappointing investors who had largely
bet it would restart more capacity.
Glencore told an investors presentation it would restart its
Lady Loretta mine in the first half of 2018, but added that it
expects zinc output to fall slightly to about 1.09 million
tonnes from 1.1 million tonnes this year.
In 2019, Glencore sees its zinc output creeping up to 1.16
million tonnes.
"Based on their guidance numbers it does remain fairly
constructive for zinc. The market was expecting more of an
immediate supply increase," said ING commodities strategist
Warren Patterson.
However, he added that ING expects overall global zinc
supply to increase next year, with the addition of capacity
coming online in Australia and South Africa.
* ZINC: London Metal Exchange zinc ended up 1
percent at $3,157 a tonne.
RVR Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
