Glencore left alone in zinc production decreased
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October 31, 2015
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November 11, 2015
Lead and zinc prices almost lost all the growth that was achieved, along with the shocking news that Glencore reason to cut output, investors found that other manufacturers have attempted to fill this decline in production.
This means that, the market is likely to see zinc shortages and rising prices next year, something that many miners are hoping to achieve.
After the announcement of Glencore, zinc prices in London Metal Exchange ,only increased by 13% in two days. Glencore previously announced reduction of 500 thousand tons of zinc production.
However, other producers of zinc, Like Vedanta and Chinese miners not welcomed Glencore this move and conversely self-reported an increase in zinc production.
Source: Minews
