The zinc price rebounded to over $2730/t during June from a low of $2434/t. The price benefited from a combination of positive macro-economic news that buoyed investor sentiment. And continued improvements in zinc fundamentals that encouraged investors to buy back into zinc. Perhaps the most significant development from a fundamental perspective was the almost 10% year on year decline in Chinese refined zinc production. With output for the first five months of the year down by 1.7%, this seems to confirm anecdotal reports this year that environmental and health and safety issues are constraining Chinese mine production. The expectation of higher prices has triggered record levels of activity amongst junior miners developing old mines, some of which has been closed in recent years, but most being "zombie mines" having been shut for many years.