January 2012 | Steel Raw Materials
LME stocks trend higher, but cancelled warrants climb too: Zinc Highlights
Higher prices are unjustified against a fundamental backdrop characterised by oversupply and a macro outlook that is weak and uncertain.
LME stocks have climbed sharply in recent weeks. The gain amounts to more than 100,000 tonnes since early December. Perhaps some of the increase was due to producers reducing stocks ahead of year end, but overall the rise in stocks does not bode well and makes it harder to...
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