Zinc prices grew by 11 percent in November and continued medium-term growth. Since January, when the price of zinc reached a 7-year low, zinc prices have rebounded by 68 percent ending at $2,566.2 per metric ton. This level is the highest since November 2007. This rapid growth was primarily led by an agreement of producers to decrease the supply because of low prices. The closure of such deposits as Century in Australia and Lisheen in Ireland, and the reduction of the output at Rampura Agucha in India, Antamin and Iscaycruz in Peru, and at Glencore in China had a great effect. Experts estimated that deficit will be bigger than it was in 2005. But price growth will be less.
Leading international agencies made the following predictions of zinc price changes:
- The World Bank in its commodity forecast report estimated that the average spot price for zinc will rise in 2016 to $2,025 per metric ton from $1,932 in 2015. The growth will continue in 2017 and 2018 and reach a maximum value of $2,600 per metric ton in 2018. After that, the declining period will start.
- The IMF's report revealed a similar expected rise from $1,932 per metric ton in 2015 to $2,094 in 2016 and growth to $2,724 in 2017. For the further period, experts don't expect a smooth rising. They predicted a fall to $2,264 per metric ton by 2020.
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