MB APEX Q1 2013 BASE METALS: Zinc outlook depends on closures – Briggs

The positive medium-term story on zinc prices is being pushed further and further out, as mine closures persist but pipeline projects pop up to replace them, Stephen Briggs, of BNP Paribas, told Metal Bulletin.

Briggs, who is a senior metals strategist in commodity markets strategy at the French bank, took first place on the zinc leaderboard in Metal Bulletin’s first-quarter 2013 Apex contest, with 99.91% accuracy.
“A lot of people have been bullish on zinc for quite a long time now, and I think the real dispute is over when it will start to motor on its own fundamentals, as opposed to being dragged by the rest of the sector, and copper in particular,” Briggs said.
“There is a good medium-term story, but that’s tending to disappear, and is being pushed further out. The bullish case is built on the key mine closures that we’re starting to see, but people have been talking about that for the past two years.”

These closures have also been well-publicised, Briggs...

Published

Claire Hack

May 21, 2013

17:38 GMT

London