Recovering Chinese steel output is boosting zinc price over short term – by Marleny Arnoldi (Mining Weekly – September 8, 2020)

https://www.miningweekly.com/

On the back of a stronger-than-expected rebound in economic growth in China, research agency Fitch Solutions Macro Research has revised upward its zinc price forecast for the year.

Initially, the agency anticipated a $2 100/t zinc price, but has revised it to $2 200/t, compared with a zinc price of $2 507/t at the end of 2019.

Zinc prices had fallen by 17.3% on average over the first three months of this year, but have since recovered to post new highs for the year, at a current price of about $2 483/t.

The agency expects the price of zinc to gradually drop further every year to $2 000/t by 2024. Fitch Solutions says a rapid recovery in steel production and, therefore, zinc consumption in China will buoy zinc prices over the remainder of the year and into 2021.

For the rest of this article: https://www.miningweekly.com/article/recovering-chinese-steel-output-is-boosting-zinc-price-over-short-term-2020-09-08