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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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November 2019 | Base Metals


Zinc: Ready to rebound


Risk-on sentiment in global equity markets and the latest ILZSG data have so far failed to break the negativity in zinc that has seen prices sell off from their late-October highs. Continuing uncertainties over the US-China trade war, and the latest macro data from China, have overshadowed the more supportive themes. But now the overbought nature of zinc prices has been corrected and support has been found, we would not be surprised to see zinc prices turn higher again.

China woes fuel price retracement
Strong risk-on sentiment in global equity markets and the latest ILZSG data have so far failed to break the negativity in zinc that has seen prices sell off from their late-October highs. Continuing uncertainties over the US-China trade war, and the latest macro data from China, have overshadowed the more supportive themes.

The latest ILZSG data showed the global refined zinc market was in a 21,500-tonne deficit in September and a 155,900-tonne deficit in Jan-Sept.

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Global zinc...

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