In Multi Commodity Exchange, Zinc settled up 0.22 percent at 205.35 on concern that the tightness witnessed this year would also be a feature of the market next year. The global zinc market deficit extended to 36,900 tonnes in October from a revised deficit of 35,900 tonnes in Sept, as per data of International Lead & Zinc Study (ILZS) Group.
In the first nine months of the year, the zinc market shortfall was 4,01,000 tonnes vis a vis deficit of 1,95,000 tonnes in the same period last year.
Meanwhile, Glencore, the world’s top zinc miner, intends to increase production to take benefit of prices near a decade high. Overall production will drop to some extent in 2018 and gradually increase through 2020, The Zink is up almost 90% since Glencore announced production cuts in October 2015.
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