Here's the problem I see. One year ago, stock levels were 160k tons and now are 60k tons. That's a reduction of 100k tons in one year! They can NOT go down another 100k tons next year as there is only 60k tons left! There is a shortage about to happen!
as has been mentioned and proven time and time again, LME stockpile levels have almost no correlation (positive nor negative) with Zn prices.
And on on top of that ncz have a concentrate high in silica and lead so TCs are going to remain higher for longer for Century. In any case let’s see what the quarterly CF report brings.
NCZ Price at posting:
33.5¢ Sentiment: Sell Disclosure: Held
Len
