MARKET TALK: Zinc May Rebound S/T As Mkt Tightens - Macquarie

There's scope for zinc prices to bounce back in near term as inventories start to decline again, says Macquarie; "Chinese (zinc) exports, together with a marginal pickup in demand (in North America), will be enough to tip the zinc market back into deficit over the next few months." Says surge in China zinc exports over as differentials between export prices and Chinese domestic prices have narrowed, reducing incentive to export. LME 3-month zinc prices down around 23% year-to-date.