RE:RE:RE:RE:RE:RE:New presentationAgreed inflation has to be taken in consideration and it has been, when looking back in the 1980's
https://data.mongabay.com/commodities/price-charts/price-of-zinc.html the average price per lbs was around 0.35 cents or ~$750 per ton representing approximately 0.85 cents in today's dollar. (You can use this simple US inflation calculator to see for yourself:
https://www.usinflationcalculator.com/ ) Therefor, 1.15 is very strong, about 35% premium if compared to 85 cents and imo there is much more upside potential than there is downside risk within the zinc fundamentals. Shanghai and LME combined are at 123K tons (Critical level being 300K tons), the reason to this drop in inventories being linked to supply destruction, any uptick in demand would possibly drive zinc prices much higher as seen in 2016