Bloomberg reported that London zinc prices rose to their highest level in nearly a month on the back of expectations that the strengthening economy will prompt demand for the metal as supply drops.
Zinc Market News Directory
Platts reported that according to Stephen Wilkinson, director of the International Zinc Association (IZA), new initiatives could add 1.9 million metric tons (MT) of demand to the zinc market over the next three years.
Platts reported that CRU analyst Helen O'Cleary sees zinc hitting $4,500 per metric ton (MT) by the end of the decade.
Reuters reported that industry sources believe zinc prices will rise in China during the second quarter of 2014 on the back of increased consumption due to railway projects and strong investment demand.
Investing.com reported that LME zinc prices have climbed slightly since Friday, from $1,985 to the $2,060 to $2,070 range.
Mineweb reported that according to Macquarie Commodities Research, the Chinese zinc market will not be tightening up any time soon.
Bloomberg reported that zinc rose to its highest price since February 20, 2013 after China retained its 7.5-percent economic growth target.
Earlier this week, Money Morning's Peter Krauth published an article in which he states that although precious metals tend to get a lot of attention, workhorse metal zinc looks poised for a breakout.
Bloomberg reported that according to a survey it completed, the fees that zinc companies must pay to smelters are likely to rise 4.5 percent in 2014.
Reuters reported that amongst the base metals traded on the London Metal Exchange (LME) in 2013, zinc was the best performer. Thus far, 2014 is also going well for the metal.