Supply fears seen driving zinc prices up

Aug 29, 2014 | 04:34 PM | Saranya Kapur

Tags  zinc, Scotiabank, Patricia Mohr, HudBay Minerals, Teck Resources, Lundin Mining, Saranya Kapur

NEW YORK — Zinc prices are expected to rise dramatically amid concerns about tightening supply, according to Scotiabank, forecasting prices will reach $1.25 per pound next year and as high as $1.70 per pound in 2016.

"(Zinc) prices have remained firm at $1.07 (per pound) in late August, normally a time of summer doldrums," Toronto-based Scotiabank analyst Patricia Mohr said in a research note. "Commodity funds and investors have bid up zinc prices, anticipating tightening supplies over the next three to four years, with mine supplies not keeping pace with demand growth."....

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