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Reuters news Singapore, Mac quarie Bank Group One analyst said that LME zinc prices have dropped to the lower two years, began to fall under the pressure; Because the world supply of large surplus may hit 880 to 900 US dollars / t. When we note that this year and next year's supply and demand balance, zinc market will face a lot of excess.

 

The results lead us to believe prices have dropped more pressure. LME three-month zinc since last July has continued to decline, the supply increased pressure, while new mineral volumes and inventory growth. If the price dropped to 900 US dollars / t around; Half of the zinc industry will cost from the loss of Spot, 800 US dollars / t to 900 US dollars / t is a reasonable bottom price. Macquarie expected zinc prices this year averaged 950 US dollars / t around for the next 925 US dollars / t around. Indian copper production will greatly enhance According to overseas media, with a new plant and the construction of two expansion projects completed before December this year, India's copper production may increase substantially. The country's two major copper production to private industry and Stern 1ite Bira Copper Smelting Plant subordinates may expansion project completed in June; While copper production to private companies under construction swSWiL an annual output of 70000 t copper plant, estimated to be 11 December or the beginning of commercial production.

 

As these projects are completed, India's copper production capacity than the current 268,000 t / a growth of 55% to 418,000 t / a. Analysts predict that from 2001 to 2002 the country's annual demand for copper from the current 300,000 t of annual growth of 8% to 32.5 to 33 million tons.