While surging equity markets and supposed revival in market sentiments are adding to gains of industrial metals, the demand supply scenario will continue to portray a dismal picture. For full story, click here
Interfax-China declared that Zinc futures prices on the Shanghai Futures Exchange may slip in the short term on dipping demand and rising supply. Mr Chen Xiaodong, an analyst from Guang Sheng Futures, stated: Zinc prices have rebounded too rapidly recently the global zinc market expected to be in surplus this year. With the traditional slack [...]
Lisbon-based International Zinc Study Group’s latest report showed that the global zinc market was in surplus by 121,000 in the first 10 months of 2008. For full story, click here
Key domestic users of zinc such as auto and steel sectors can raise a toast as a study by a global industry body has forecast that outlook for the metal continues to remain bleak for the next 12-15 months, mainly on oversupply. For full story, click here
By Leia Michele Toovey- Exclusive to Zinc Investing News Australia’s carbon tax program may force miners into bankruptcy. Nyrstar, the countries largest zinc and lead miner, issued a response to the governments proposed taxation scheme. Chief Operating Officer Greg McMillan said modeling prepared for the company showed that the taxation would cost the company $70 [...]
Octagon Capital said, prices declining to $0.504 per pound on LME last Friday, suggest that at least 1.3 million tonnes of production will shut down by next year. For full story, click here
Zinc prices lost 6 percent tracking broad metal prices into negative territory as worries over the extent of the economic slump and demand for industrial commodities dragged on investors. For full story, click here
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