June 2009 | Base Metals
Prices edged lower: Zinc- Market Analysis
Zinc is starting to look more vulnerable to a downside correction as most indicators are weakening now.
LME zinc stocks increased again, with the rise accelerating for the fourth consecutive week. By Friday, stocks had reached 353,700 tonnes – up 14,525 tonnes or 4.3% on the week – due to arrivals mainly in Asia and the USA. The headline total is now closer to February’s multi-year high of 362,000 tonnes than the recent lows in May of around 318,000 tonnes. Furthermore, cancelled warrants are now...
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