When the "King of Zinc" makes a statement re; zinc fundamentals,...

When the "King of Zinc" makes a statement re; zinc fundamentals, it's very hard not to get excited.

Glencore sees tighter zinc, nickel supply lifting prices August 20, 2014 - 10:42 GMT Location: Singapore KEYWORDS: Glencore , nickel supply , zinc supply , Ivan Glasenberg Nickel and zinc prices will be lifted by supply growth decline and eventually a likely fall in supply in absolute terms, according to Glencore ceo Ivan Glasenberg. "Since the start of the year, the prices of nickel and zinc have risen by 35% and 10%, respectively," he said in the half-yearly results statement on Wednesday August 20. The increases in nickel and zinc prices point the way for other commodities, he added, with the probable exception being iron ore, where supply growth is not expected to peak until 2017. The commodities giant posted an 8% increase in underlying earnings and announced a $1 billion share buyback plan. The outlook for nickel Better activity in stainless steel, combined with robust demand from non-stainless applications such as nickel-based alloys, had led to higher global nickel consumption in the first.