第四季度供应跟踪和2019年展望：2019年下半年锌价下跌.pdfVIP

18 March 2019 Global/Europe Equity Research Diversified Metals Mining Metals and Mining Research Analysts SECTOR REVIEW Conor Rowley 44 20 7883 9156 Q4 supply tracker and 2019 outlook: Zinc conor.rowley@ Samuel Catalano setting up for a fall in H219 44 20 7883 0346 samuel.catalano@ Alexandr Ryumin Figure 1: Zinc smelter profitability back at the highs 44 20 7883 3015 500 alexandr.ryumin@ 450 400 Specialist Sales: James Brady 350 44 20 7888 4267 300 james.brady@ 250 200 150 100 50 0