getting close, page-5

Sorry about my mistake, craigebarnes. I am not making any excuses just the reason, which is quite interesting ,I missed the large dump of a prior 'hidden' supply of Zinc into the LME . Kindly refer to http://www.kitcocasey.com/displayArticle.php?id=171

Market events since the publication of this report have vindicated its claims. In the zinc market, LME stocks fell by roughly 100,000 tonnes in 2005 through early June. Most analysts assumed zinc was in a deficit. And then, in three days in June, LME stocks of zinc rose by 103,000 tonnes.

Everyone now realizes that these were off warrant hidden stocks suddenly showing up. Producers are shaken.

Donald Lindsay, chief executive of Teck Cominco Ltd., the world’s largest zinc miner made these comments in an interview yesterday:


"We were disappointed" with the increase in inventories, Lindsay said. "It is not as if we didn’t know that there was
potential for more 'hidden stocks' showing up. We did. The extent of the sheer volume of the increase was disappointing. We hope that’s the bulk of it, but by definition, hidden stocks are hidden, so you don’t really know."


Teck Cominco’s Lindsay Comments
Rise in Zinc Inventories Bloomberg,
June 16, 2005

However the price is still much higher than it was .
It may in fact allow a good buying opportunity for Zinc shares .