Glencore ‘vindicated’ on zinc supply cuts, Morgan Stanley says

August 22, 2016

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Glencore’s decision to cut zinc output to fight a rout in prices last year has been vindicated as the metal has rallied in 2016, according to Morgan Stanley, which held out the possibility that the commodity trader may order restarts.

“It turns out, cutting/waiting was a good plan,” Morgan Stanley said in a note, which contained the heading “Glencore, vindicated”.

Category: General