Mike Agg, President of Tekminco's Refined Metals Division, said at a meeting in New York that after a series of short-term shortages, the zinc concentrate market will turn into a basic supply and demand balance by the end of 2007. However, the metal market will be supported by strong demand and prices will be firm.
He predicted that in 2006 the supply of zinc concentrate will reach 10.58 million tons, while the smelter processing capacity of 10.65 million tons, the annual market supply shortage of 84,000 tons, in 2007 supply and processing capacity will reach 11.4 million tons, by 2007 By the end of the year, the market will become balanced. However, the metal market demand will continue to exceed supply. It is expected that zinc consumption will increase by 5.6% in 2007, and global zinc metal production will be 11.6 million tons, with a demand of 11.9 million tons. He believes that the fundamentals of the zinc market have never been so good. In the past three years, supply has been insufficient, he stressed that LME zinc prices are more supportive of fundamentals, rather than speculation. He also predicted that stocks will be depleted next year. He mentioned that the supply constraints are continuing because the mining companies do not expect much metal supply and the mining companies have not invested in the exploration industry. "Our exploration investment last year was only 2%." "Although there are currently 10 projects in the world, Construction, but only San Cristobal will increase the supply, the project can produce 200,000 tons of zinc concentrate annually, and it is expected to start production in 2008."

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