RVR 0.00% 7.3¢ red river resources limited

https://www.reuters.com/article/global-metals/metals-london-zinc-...

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    https://www.reuters.com/article/glo...an-8-month-high-stocks-in-focus-idUSL3N210147

    London zinc prices hit their
    highest in more than eight months on Wednesday, as investors
    worried about ultra-tight stocks of the metal used to galvanise
    steel.
    Zinc stocks in London Metal Exchange-registered warehouses
    currently stand at 59,200 tonnes, their lowest since October
    2007 MZNSTX-TOTAL.
    Prices "have moved higher on the potential for supply
    disruptions and very low inventory levels," Standard Chartered
    said in a note.
    Floods in Australia's Queensland state last month have
    disrupted rail delivery of zinc exports to the northern port of
    Townsville, affecting miners, including Glencore, MMG
    Ltd and South 32.
    Townsville port ships about 40 percent of Australia's zinc
    production, equal to about 700,000 tonnes a year or 5 percent of
    global supply.

    FUNDAMENTALS
    * LME ZINC: Three-month LME zinc rose as much as 0.4
    percent to $2,848.50, its highest since July 2, and was up 0.1
    percent at $2,840, matching the previous session's high, as of
    0708 GMT.
    * SHFE ZINC: The most-traded May zinc contract on the
    Shanghai Futures Exchange climbed as much as 2.5
    percent to 21,980 yuan ($3,277.91) a tonne, the highest since
    April 2, 2018, before closing up 2 percent.
    * ZINC SPREADS: The premium of cash zinc over the
    three-month LME contract CMZN0-3 stood at $52 a tonne on
    Tuesday, the highest since Jan. 7, underscoring tight near-term
    supply for physical metal.
 
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