Shanghai futures zinc stocks were said to be a tad over 30,000t.I wouldnt mind betting we are seeing some of this material dumped on the spot market atm to keep the price of zinc well below $2/lb.
LME cancelled warrants have dropped for consecutive days suggesting a slowing of draws in the near future.I still have not received the latest MetalsInsider report,which gives the most recent update of cancelled warrants but I'll almost bet odds on that they have dropped again and we are soon to see some inflow into the LME rather than the strong draws that have been occuring as of late.
d.
whats up with zinc right now, page-6
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Last
$2,575.9 |
Change
0.000(0.08%) |
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| $2,575.9 | $0.00 | $0.00 |