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Plext

10,623 Posts.

1261

21/06/17

16:37

Post #: 25410951
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Originally posted by thaiinvest ↑

Plext - Sorry but I am hoping not to see A$0.17 again - zinc prices have rebound of a low of circa US$1.10 per lb last week to US$1.15 currently and RVR stock price seems in the absence of new news not unnaturally seems follow the zinc prices - This from Bloomberg in case you did not see it

However as I said in my last post I have given up trying to figure short term zinc prices. Apart from fighting of stock levels / shortage in any commodity should lead to price increases - one does not know the market "trigger point" for this to happen

MEZinc extends rally, hits fresh high on concerns about supply

 Zinc prices gained for a fifth straight session on Tuesday, hitting the highest in over two weeks as investors bet that supplies were tightening.  A steady drumbeat of news has encouraged bulls recently, including news of a market deficit, an expected strike in major producer Peru and declining inventories.  Aluminium and nickel have also been lifted by news that could mean lower supplies of metal.  "You've got some news with a bullish tone, so that's supporting the market, but I don't know how sustainable all this will be," said Gianclaudio Torlizzi, Partner at consultancy T-Commodity in Milan.  "We have a small long, but we're not married to this position because the general outlook is still not really bullish. Monetary tightening in China is still taking place."

ZINC: Benchmark zinc CMZN3 on the London Metal Exchange was up 0.6 percent at $2,571 a tonne by 1040 GMT after touching $2,581.50, the highest since June 1. "The underperformance of LME zinc in 2Q’17 appears poised to reverse as nascent fundamentals finally buttress modest support," Citi analyst Nell Agate said in a note.  A planned nation-wide mining strike in Peru due to start on July 9 could halt production of about 10,000 tonnes of zinc in concentrate from the Antamina mine, Agate added. Zinc prices gained for a fifth straight session on Tuesday, hitting the highest in over two weeks as investors bet that supplies were tightening.  A steady drumbeat of news has encouraged bulls recently, including news of a market deficit, an expected strike in major producer Peru and declining inventories.  Aluminium and nickel have also been lifted by news that could mean lower supplies of metal.  "You've got some news with a bullish tone, so that's supporting the market, but I don't know how sustainable all this will be," said Gianclaudio Torlizzi, Partner at consultancy T-Commodity in Milan.  "We have a small long, but we're not married to this position because the general outlook is still not really bullish. Monetary tightening in China is still taking place."

ZINC: Benchmark zinc CMZN3 on the London Metal Exchange was up 0.6 percent at $2,571 a tonne by 1040 GMT after touching $2,581.50, the highest since June 1. "The underperformance of LME zinc in 2Q’17 appears poised to reverse as nascent fundamentals finally buttress modest support," Citi analyst Nell Agate said in a note.  A planned nation-wide mining strike in Peru due to start on July 9 could halt production of about 10,000 tonnes of zinc in concentrate from the Antamina mine, Agate added.

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Yes I did see this @thaiinvest, thanks for sharing. We as shareholders must factor in the 21million options due for exercising in the next 5 months at average of about .125¢ from memory. Im bullish as the next guy but the plants not running and there are contracts yet to be signed. Im just going to continue to average into this one as I think it will oneday return to .30¢ some time in 2018.

P.s We need the AUD to fall to .725¢ or lower imo.
RVR Price at posting: 18.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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