RBC - Outlook for Zinc
April 15th report
Price Forecasts "The zinc price has traded in a range of $0.88/lb to $1.10/lb over the last 15 months and currently sits at $0.99/lb. The price is well above the bottom of its historical range in real terms compared to inventories as weeks of consumption, but with the market forecasted to remain in deficit, the downside is likely limited. Rather, we see significant upside potential for zinc prices over our forecast period. With the drawdown of inventories to below the critical level in 2017, we expect the zinc price to return to its historical high of $1.60/lb on an annual average basis." Should be good news for IVN down the road.