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n/a
deleted
81 Posts |
 Posted - 08/11/2008 : 23:25:25
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Platts reported that summer shutdowns continued to put a freeze on zinc premiums for another week, with price assessment for special high grade zinc unmoved at 4 cents plus LME cash and the price for alloy number 3 immobile at 17 cents plus LME cash.
The report cited a trader as saying that "The market is still mired in summer. We continue to see very little interest on the buy side in zinc."
He said that "Zinc is probably trading lower than it should, based on the price of other metals," the trader said. "Close to 20%-30% of world production is at cash cost. However, mine shutdowns that will set the stage for a price comeback are starting to happen and Chinese demand might go up after the Olympics."
With scant deals on either material keeping premiums static for now, the focus has turned to the beleaguered zinc LME price that seems in perpetual freefall.
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wavecrazed
Penny Sorter Member
USA
69 Posts |
Posted - 08/13/2008 : 20:22:06
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| So I would be safe to saying stainless steel is gonna drop! |
scrappin" all over |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/13/2008 : 20:58:10
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| It wasn't all that long ago when production of zinc couldn't keep up with demand. Was it really being held back from the market or was it over bought back then? |
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Think positive. |
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Update on US zinc market
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