Glencore restart not seen disrupting zinc market

The restart of some of Glencore plc’s idled zinc capacity is not expected to disrupt the market, largely because the news was anticipated and the market is already in a deficit, market participants said.

Glencore said on Tuesday December 12 that it will restart its Lady Loretta zinc-lead mine in Australia during the first half of 2018, adding 100,000 tonnes of zinc to the market. The ramp up at the Australian mine marks the first restart since Glencore cut 500,000 tonnes of capacity in October 2015, in response to tumbling zinc prices. “I’m surprised they didn’t restart it earlier,” one trader told American Metal Market. Indeed, metal market analysts had already...

Published

Millicent Dent

December 14, 2017

01:12 GMT

New York