Gains in coming days would extend the advances of the past two weeks, spurred by optimism of a coronavirus treatment and the prospect of a staggered reopening of the U.S. economy.

Demand has been hit by slowdowns in the construction, automotive and rail sectors as India fights the coronavirus with a protracted lockdown.

Even before the lockdown gold demand was faltering in India.

BMO estimates global zinc demand will fall by about 6% this year.

Vessel tracking and port data suggests a slowing in cargo offloading in China, India and Japan in the first half of April.

On April 21, India’s Supreme Court is scheduled to begin hearing a plea by Vedanta to restart iron ore mining in the state.