Great Investment Articles
A repository of great articles to help make informed investment decisions.Friday, May 26, 2006
Zinc prices will stay above $3,000 till 2008, says Volcan
MAY 25: Volcan Cia Minera SA, South America’s biggest zinc producer, said prices for the metal won’t fall below $3,000 a metric ton until 2008 because of a production shortfall.
Zinc will remain almost three times the average price for the past five years because of a scarcity of the metal, Volcan chairman Roberto Letts said in Madrid on Thursday. Letts said he wasn’t ‘‘convinced’’ there is a ‘‘bubble’’ in zinc prices.
‘‘There is good demand, and no new production, prices will stay above $3,000,’’ Mr Letts said. Zinc futures have risen 86%, and traded at a record $4,000 on May 11. Demand is forecast to exceed production, and investment funds are buying the metal as they diversify into commodities.
—Bloomberg
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