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Zinc to Hit $4,000 per Tonne in Next Few Years: CRU Consulting
Sep. 08, 2014 10:33AM PST
Base Metals Investing Speaking at the Western Australia-based Paydirt 2014 Africa Down Under Conference, Phil Newman, CEO of CRU Consulting, said that the outlook “could be really good” over the next few years for investors focused on base metals traded on the London Metal Exchange.
Speaking at the Western Australia-based Paydirt 2014 Africa Down Under Conference, Phil Newman, CEO of CRU Consulting, said that the outlook “could be really good” over the next few years for investors focused on base metals traded on the London Metal Exchange.
As quoted in the market news:
On zinc, where there is an anticipated deficit ahead as some major producers are scheduled to close due to ore depletion, prices are already firming and he predicted that $4,000/tonne zinc will come by 2016/2017. Zinc is currently trading at around $2400/tonne spot on the LME so this represents a 66% price increase over 2-3 years should his prediction come about.