With prices down nearly 10% in 2019, now is not an easy time for zinc miners. Measured from its highs hit in March-April the metal – used mostly to galvanize steel and as an alloy – is down more than 20%. That’s officially a bear market.
Zinc’s fortunes this year compares with that of nickel, which despite a sharp correction recently is still enjoying a 33% gain year to date. On-again off-again Indonesian ore export bans have buoyed nickel, but most of the excitement surrounding the metal has come from electric vehicles.