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Hidden zinc stocks cloud upcoming surge in supply

Eric Onstad

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LONDON (Reuters) - Hidden zinc inventories are helping to keep stocks low in exchange-approved warehouses and prop up prices, but increasing production is due to hit the market in coming months.

 

 

Rising output at new mines will eventually find its way to the market and pressure benchmark prices, according to consultancy CRU.

 

Vanessa Davidson, director of base metals research at CRU, told a presentation that about 900,000 tonnes of zinc were due to come online next year, boosting mine production by 7.3% to 13.37 million tonnes.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“We see that the increase in supply next year is both extreme and significant... prices will need to fall significantly from where they are today in order to encourage more price-sensitive cutbacks of production,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ Davidson said.

 

read more - https://www.reuters.com/article/us-metals-z...y-idUSKBN1XN21B

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LIVE FUTURES REPORT 05/12: LME zinc price fails to hold gains in 1.3% dip, turnover tops complex

The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday December 5, with the metal failing to hold on to recent gains while volumes traded topped the complex.

 

Zincâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s outright price fell to an intra-morning low of $2,217.50 per tonne, a loss of 1.3% against Wednesdayâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s closing price of $2,246 per tonne.

read more - https://www.metalbulletin.com/Article/39075...ps-complex.html

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Glencore sees higher zinc, oil production by 2022

Published: Dec 3, 2019

Zinc production is also expected to rise in the period, with production peaking at around 1.4 million metric tons in 2021, and then falling to around 1.2 million tons in 2022, the company said. Production in 2019 is expected to be around 1.1 million tons..

https://www.marketwatch.com/story/glencore-...2022-2019-12-03

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