I wouldn't trust the Buy side All4one - I can increase that by...

I wouldn't trust the Buy side All4one - I can increase that by 25% in a heartbeat.

As far as your observations with construction in China and zinc, perhaps an over simplification. China's growth is still more than double the world average. There are also huge urban migrations happening elsewhere in Asia. The auto industry globally is in reasonable shape and there are lots of infrastructure projects underway, including railways - these all consume zinc. I don't believe demand for zinc is falling, and that view is shared by Lead and Zinc Study Group, CRU, Wood MacKenzie, MMG, and Glencore, if not daly.

And zinc supply would appear to be falling this year, unlike coal and iron ore where there are gluts. I'm comfortable zinc is currently hostage to overall sentiment of iron ore and coal as you point out, but there are some significant factors that the market is ignoring with zinc for the time being. Was going to say, just my view but isn't really, as think I'm in good company

Here's a recent balanced analysis with many of the elements that we speculate about on this thread re warrants, China etc http://www.fastmarkets.com/zinc-analysis-and-research/zinc-analysis-forecast-q2-2015  and also be interesting to see what the International Lead and Zinc Study Group release in their next market forecast in October.