Zinc Canceled Warrants Triple After Force Majeure Declared, Macquarie Says
By Claudia Carpenter - Aug 7, 2010
Traders tripled orders to withdraw zinc from warehouses monitored by the London Metal Exchange, most of it in New Orleans, after a producer suspended supply contracts, Macquarie Group Ltd. said.
There are supply worries after a producer declared force majeure earlier this week, Macquarie said in a report dated Aug. 9. Metal booked to be withdrawn from LME-monitored warehouses climbed to 65,150 metric tons yesterday, from 20,775 tons the day before, according to the exchange.
http://www.bloomberg.com/news/2010-08-07/zinc-canceled-warrants-triple-after-force-majeure-declared-macquarie-says.html
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