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S&P Trims Zinc Price Forecasts

Metal News - Published on Wed, 16 Oct 2019

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S&P Ratings said that slowing growth along with the expectation of new low-cost production coming into the market, led to its reducing zinc price forecasts to USD 2300 a tonne. S&P said the gloomier economic prospects and expectation of low rates should favor gold prices, leading it to increase its price assumption up to USD 1400 per ounce in 2020 and 2021.

This comes as zinc prices rose to a two month high of USD 2440 a tonne on concerns that the shutdown of Vedanta Resources’ Skorpion zinc operations in Namibia from early November to the end of February 2020 would impact supply.

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Posted By : Rabi Wangkhem on Wed, 16 Oct 2019
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