JP Morgan: "We think the second-half 2017 fundamental outlook for zinc looks less supportive, easing supply constraints and questionable demand strength."
Big winners will be aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium.
New report shows lead swinging into 91,000 tonne deficit and zinc undersupply increasing by a third to 178,000 tonnes during first five months of 2017.
Codelco, which sends all its profits to state coffers, posted a larger profit in the first quarter of 2017 than in all of 2016 as a result of a strict policy of containing costs and a modest recovery in global prices for the red metal.
The spin-off business would go after royalty agreements in copper, zinc, nickel and cobalt, worth more than $300 million, while looking to attract a strategic partner to fund further deals.
