 "Silver lining for Hindustan Zinc")
After hitting 52-week highs, the scrip of Hindustan Zinc has fallen 20 per cent to the current Rs 265. While this is due to some correction in zinc prices on the London Metal Exchange (LME), company fundamentals and the outlook for zinc prices are strong. Hence, these corrections are good opportunities to accumulate the stock.
Per-tonne zinc prices, after seeing a high of $2,950 in February on the LME, had corrected to $2,425 in June. This has sharply rebounded to cross $2,700 a tonne. The outlook remains strong, given demand-supply mismatch.
International Lead and Zinc Study Group’s forecast for 2017
