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Bullion bear market seen ending zinc’s 7-year glut: Commodities

Posted on 26 July 2013

The bear market in silver is poised to turn around the fortunes for zinc as miners reduce production and end the seven-year glut in the industrial metal. Silver makes up 40 percent of the value of byproducts from zinc mining and helps reduce costs for mineral companies, HSBC Holdings Plc says.
Its 33 percent slump in the past seven months added about $130 a metric ton, or 7 percent, to average zinc production costs, according to CRU, the London-based research company. Zinc demand will exceed supply by about 4,000 tons in 2014, from a 44,800-ton surplus this year, the average of 14 analyst estimates compiled by Bloomberg show………………………………………..Full Article: Source


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