The same analysis on zinc has been paraded around for at least 5 years, nothing has changed until recently. Have a look at LME and or full estimated stocks vs the zinc price, no relationship there post GFC. Tells you that there is significant overhang of above ground stock and production that can easily be put back on stream with higher prices coupled with stagnant demand. I think we are just starting to see some pick up in prices reacting to prevailing deficits in 2017 and 2018. Not supper bullish but there is a good window to trade finally opening up when prices push over $1 lb levels.
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The outlook for zinc appears bullish, page-3
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