Goldman’s ‘Bullish Exception’ Powers Ahead as Zinc Tops $2,000
- Nyrstar and other zinc producers get boost from price rally
- Prices at 10-month high on outlook for worldwide shortage
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Zinc extended its rally to a 10-month high amid expectations for a global shortage of one of this year’s best-performing commodities.
Zinc, used for rustproofing steel in everything from auto bodies to suspension bridges, has surged 23 percent in 2016, outperforming other base metals. Banks from Goldman Sachs Group Inc. to Macquarie Group Ltd. see further gains for prices that have risen for six straight days. Zinc deficits could even send prices to a record in the next two years, ICBC Standard Bank Plc said in March. The metal peaked at $4,580 a metric ton in 2006.