Macquarie analyst sees zinc rebounding

By Tom Stundza -- Purchasing, 5/7/2008 10:07:00 AM

World zinc prices may rebound by 50% in the next five years to $1.50/lb in 2013 (from $1 so far this month) as slowing growth in mine supply leads to a global shortage of refined metal used to galvanize steel. That’s the view of Jim Lennon, a London-based analyst for Macquarie Group Ltd., whose conclusions are summarized in a Bloomberg news report. For comparison’s sake, high-grade zinc this year to date is averaging $1.07 on the London Metal Exchange (LME) because of weakened demand after averaging $1.47 in 2007 and $1.44 in 2006.

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