ZFX zinifex limited

zinc crash ... here we go, page-12

  1. 3,166 Posts.
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    Crash Time??? LME stock piles at 87,575 ton! I don't think so! Average zinc price for 2006 calendar year was $1.30 lb! Will 2007 average price be below that figure? I don't think so!! All metals will probably trend lower on lower volume over the Christmas / New Year period but expect a boom in January 2007. Zinc will find support at 1.65/1.70 area (if it gets that low)! For a larger sell off, 100,000 T LME stock pile needs to be exceeded! Check the copper chart out for this time last year for an exact copy of the zinc chart. Why has copper fallen since May? Look no further than the doubling of LME stock piles since then! Zinc LME stock pile depletion has not reversed. In this situation, a sell off to 1.30 is extremely unlikely!
 
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