Zinc Prices will Shoot Up
By Purchasing Staff -- Purchasing, 6/12/2008 2:00:00 AM
World zinc prices may rebound by 50% in the next five years to $1.50/lb in 2013 as slowing growth in mine supply leads to a global shortage of refined metal used to galvanize steel. That's the view of Jim Lennon, a London-based analyst for Macquarie Group. For comparison's sake, high-grade zinc this year to date is averaging $1.07 on the London Metal Exchange (LME) because of weakened demand after averaging $1.47 in 2007 and $1.44 in 2006.
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