Hi Deidre.
The metal prices are being savaged on Kitco as well as the LME.
ZINC STOCKS
Zinc MZN3 slid to $1,746 a tonne on rising stocks in LME warehouse, which
rose 2,500 tonnes to 161,825 -- the highest since September 2006.
The increase in inventories is likely to pressure prices even lower,
Barclays Capital said in a research note.
Earlier the metal, mainly used to galvanize steel, hit a 2-1/2-year low of
$1,730 from $1,769 at the close on Monday.
Lead climbed to $2,015 a tonne from $2,000 on Monday when it shed 6
percent. The battery material has been one of the few metals to rally recently
on the back of Chinese demand and rising cancelled warrants -- material already
reserved.
Let's hope that Intec got enough cash from the Rights Issue to weather the storm till encouraging news about the IMRP.
Cheers.
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