The shortfall in supply is 70% manipulated by the majors putting mines on care and maintenance to return some credit to the zinc price and 30% due to limited exploration in recent years. Glencore can take the sting out of the shortage whenever they want. Now through to 2021 is the window that needed to be hit by zinc plays in this period and IBG missed it. There’s always another one though.
IBG SP, page-26
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