NCZ 0.00% $1.10 new century resources limited

"almost no correlation"October 2015; LME stockpiles ~600kt, Zn...

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  1. 5,336 Posts.
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    "almost no correlation"

    October 2015; LME stockpiles ~600kt, Zn price ~$0.80/lb
    Today; LME stockpiles ~60kt, Zn price $1.15/lb

    trend over that 4 year period has been stockpiles continuously falling, with price trending higher with a spike to 1.60, but never falling below 1

    seem like at least a moderate correlation

    analysts across the industry should probably stop referencing LME/SHFE stockpiles if they are so meaningless; maybe Teck know something about zinc markets? they included this in their annual report... indicates they think stockpiles mean something
    https://hotcopper.com.au/data/attachments/1791/1791877-d5167973a4a152d299a4137744ea0ab7.jpg

 
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