homevideos Newsmarket Newscommodities NewsZinc at 16 year highs; may rise to $4,500 over short term, says IZA
Zinc at 16-year highs; may rise to $4,500 over short term, says IZA
Zinc prices are at 16-year highs and have nudged above $4,200 per tonne. The all-time high for the metal is at $4,600. Speaking to CNBC-TV18, Rahul Sharma, Director-India, International Zinc Association (IZA) said zinc prices may hold at this level, or even rise to a level of $4,500 over the short term.
Zinc prices are at 16-year highs and have nudged above $4,200 per tonne. The all-time high for the metal is at $4,600.
In an interview to CNBC-TV18, Rahul Sharma, Director-India, International Zinc Association (IZA) said, “The year began amid rising inflation worldwide, driven by a surging of energy prices in Europe, then labour shortages, supply chain disruptions and pent up demand for commodities. So base metal prices remain elevated since January.”
He added, “I feel that zinc prices may hold at this level, or even rise to a level of $4,500 over the short term. The prices will reduce from this level once both power availability and pricing should improve for smelters as warmer weather comes.”
For full interview, watch accompanying video.
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