Investing.com -- JP Morgan expects zinc prices to remain elevated for the rest of 2026, citing supply disruptions despite weak demand.
The bank reduced its 2026 global refined zinc production forecast by nearly 300,000 metric tons, tightening the global balance by a similar amount. The global market is now projected to show a surplus of around 130,000 tons.
JP Morgan anticipates a 5% year-on-year decline in 2026 mine supply growth, driven by disruptions and guidance misses from major producers in Sweden, the U.S., and Peru.
Three-month zinc on the London Metal Exchange fell 0.3% to $3,540 a metric ton on Friday.
The bank expects LME zinc prices to average between $3,400 and $3,500 per metric ton for the remainder of 2026.
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