I was very impressed how ZFX staved off going lower than 17.69. Once again the supply and demand theory has kept this stock strong. If SP rises tomorrow past 18.40 I'll be blown away.
Quote Iris Report
"(05 December 2006)"
Zinc prices are likely to break the all time record of USD 4,619.50 they had set on the London Metal Exchange (LME) on November 24, owing to depleting inventory, reports Business Standard.
The total inventory in the LME-registered warehouses fell 375 tonne on Monday to 84,825 tonne, equivalent to not more than two days of global consumption.
The inventory has touched the alarming low level with further room to fall, as there have been no hidden stocks of zinc unlike copper.
ZFX
zinifex limited
