May 2012 | Base Metals
Cancellations jump as traders move to support premiums: Zinc - Market Analysis
The trend is downward, but prices are getting some lift. A sharp pick-up in cancelled warrants may be helping to underpin sentiment, but we doubt it will last.
Cancelled warrants more than double, as prices slide
As prices are coming under pressure, it looks as though producers and traders are stepping up their efforts to keep premiums elevated. What has worked in aluminium now seems to be spreading to other metals. In mid-April, cancelled warrants on lead shot higher from 20,000 tonnes to 85,000 tonnes and last week it was...
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