With the end of the Red Dog mine shipping season (biggest zinc mine in northern Alaska), the LME inventory has resumed the downward march, after a two month net increase and the zinc spot price looks to breach that $US1.10 per pound level by the end of the month. This will be the highest price for three years.
Will we see $1.20 by the end of the year? See April article http://chfcapital.com/category/zinc/ and this forecast from August http://www.mining.com/web/zinc-and-...ramatically-higher-next-year-says-scotiabank/
Here's the latest inventory table, graph and zinc price charts:
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Last
$2,575.9 |
Change
0.000(0.08%) |
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| Open | High | Low |
| $2,575.9 | $0.00 | $0.00 |