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Make dependable decisions. Shape the future with experts who blend industry knowledge with objective perspective.
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Zinc prices are at a four-year high and in backwardation, even though the market has been in surplus since the start of the year. This unusual combination is being driven by an accumulation of refined metal in China, where demand remains weak. The "Chinese wall of VAT" prevents that metal from being exported easily, producing atypical price behaviour in a market that is nominally in surplus.
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