- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
A brief overview of zinc price developments, supply and demand, and significant market movers
Zinc prices on the London Metals Exchange (LME) have continued to track higher on an improving balance between the global demand and supply. The price fell slightly this week, down to US $2,008.75/tonne by mid-day Thursday, but remained up almost nine percent since the beginning of the year when prices were at $1,845/tonne.
Initial news of a zinc price rebalancing occurred at the beginning of the year when prices gained more than $300/tonne on fears that upcoming mine closures will leave markets under-supplied and incapable of dealing with developing world growth.
But despite recent gains, zinc prices are still down more than 14 percent in the last year on growing warehouse stockpiles which hit a 17 year high in April with over 900,000 tonnes in storage.
Bloomberg described current zinc price dynamics as backwardation, when near-date deliveries are more expensive than later date deliveries reflecting concerns about short-term supply. Currently, there is a rush to hold zinc due to the perceived value the metal can offer once mines begin closing by late 2013.
“There is so much metal around that warehouses believe that there is value in filling up” their space, London-based trader Andrew Silver of Natixis Commodity Markets Ltd., told Bloomberg.
Outlook Reports
Featured Base Metals Investing Stocks
Browse Companies
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2354.93 | +0.35 | |
Silver | 28.17 | 0.00 | |
Copper | 4.30 | +0.02 | |
Oil | 85.29 | +0.06 | |
Heating Oil | 2.67 | 0.00 | |
Natural Gas | 1.89 | +0.02 |
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.