Yeah - I reckon that when the price hits those "primary" marks the dealers' machines kick in and that' it.
This chart shows two such events, IMO.
There's the high of end Jul 2014 (2419.5) and then 2382 in May 2015. It was the peak in May that surprised me, I thought it was going through the roof - albeit without much fundamental support.
The weekly data is LME - one day behind - so that weekly print is incomplete, but it still talks.
The fundamentalists on this forum have stated that there's a shortage in Zinc with mine closure etc. The POZ has had a pretty spectacular rise since January - it's the 2419.5 mark that has my interest - if it does for that, then bring on 2580, and its off to the races - definitely on the monthly.
Go well all
Zinc price, page-9
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