Zinc close to 2750$/ton area

Zinc’s downturn started on March 23 approached the first intermediate support in the area 2750$/ton (April 1, 2021). This intermediate level could give way, leaving room for quick pullbacks towards $2720.

Also on a statistical level, in the last 5 years of trading, the first 10 days of April have always been moments of decline for prices (phase 1 – does not apply to the last 10-15-30 years). Despite this, on a graphical basis prices are in a weakening phase, consequently a return below the area 2750$/ton is not excluded (from 1/4 to 10/4).

For the following week (April 11 to 17), prices may react (all time horizons follow the same upward direction – phase 2).

For the 3rd week there might be new weaknesses (phase 3) and for the last week the prices might react again.

The deduced reactions should be confirmed by a maintenance of the prices above 2720$/ton.

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