Michael Widmer, head of metals research with Bank of America Merrill Lynch, and Vivienne Lloyd, base metals strategist with Macquarie Commodities, presented a quick analysis of the sister metals, showing the key market trends over 2018 and the outlooks for zinc and lead.
Broad stability in lead
Widmer noted the Chinese government’s strong attempt to rebalance its economy amid an escalating trade war with the United States, and grounded much of his base metals outlook on China’s economic progress.
“The trade dispute is certainly about much more than tariffs. The last trade war between the US and Japan didn’t just result in one lost decade, it went on to be...