eureka report - out last night !!, page-8

Direct quote from Fastmarkets

The global refined zinc market deficit climbed to 18,000 tonnes in January-November last year while lead was in a deficit of 41,000 tonnes for the same period, the International Lead and Zinc Study Group said.

“The drawdown in LME stocks suggests that the market may be tighter than originally forecast. The Shanghai/LME arbitrage for zinc has been supportive of imports and physical premiums remain well supported. The zinc price traded up $2108 in December as macro and technical players poured in and we would expect further buying interest to emerge now that rebalance is finished and exchange stocks continue to fall,” analysts at RBC Capital said. - See more at: http://www.fastmarkets.com/base-metals-news/69687-0-en#sthash.iNkBQ5Of.dpuf