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Nyrstar Expects Zinc Prices to Rise when Large Mine Shuts
Feb. 06, 2015 12:48PM PST
Base Metals Investing
Bloomberg reported that the world’s largest refined-zinc producer, Nyrstar NV, expects the price of zinc to rise after the 500,000 metric ton Century mine in Australia closes at the end of 2015.
Bloomberg reported that the world’s largest refined-zinc producer, Nyrstar NV (EBR:NYR), expects the price of zinc to rise after the 500,000 metric ton Century mine in Australia closes at the end of 2015.
As quotes in the market news:
Zinc prices gained 6 percent last year amid speculation supply will fall short of demand as some mines shut. Stockpiles in warehouses tracked by the London Metal Exchange are at the lowest since October 2010. Strong consumer demand has helped buoy zinc, Australia & New Zealand Banking Group Ltd. said in a report Thursday.
Heinz Eigner, acting CEO of Nyrstar, stated:
We are heading into a period that is forecast to be short on both the concentrate market and the refined metal market. “This double deficit” is pushing the metal into a “very strong price range.”