Zinc’s Six-Year Glut Is Seen Ending After China Curbs
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The first retreat in Chinese zinc output in three decades and record global demand are spurring Morgan Stanley to predict the end of a six-year glut.
Consumption will outpace supply of refined metal by about 100,000 metric tons in 2013, equal to what the U.S. consumes in a month, with at least four more years of deficits, the bank estimates. Zinc will rally as much as 19 percent to $2,350 a ton by the end of December, according to the median of 11 analyst estimates compiled by Bloomberg.