Today’s commodities news starts off with bursting warehouses full of zinc, an unexpected rise in cocoa futures, and an equally unexpected fall in corn and wheat prices.
The stockpile of zinc at the bonded warehouses of the London Metal Exchange is at its highest point since 1995, at over 800,000 metric tons. Like its stockpiles, the price of zinc is also relatively high, currently over $2,300/metric ton. Demand is expected to rise by 5.5% in 2011 while supply is expected to rise just 2.2%.
One longer term supply issue is that about 1 million tons of zinc will drop from supply by 2014 as several currently operating mines close down. Leading zinc producers include Teck Resources Ltd. (NYSE: TCK), Xstrata plc (OTC: XSRAY), and Anglo American plc (OTC: AAUKY)
The stockpile of zinc at the bonded warehouses of the London Metal Exchange is at its highest point since 1995, at over 800,000 metric tons. Like its stockpiles, the price of zinc is also relatively high, currently over $2,300/metric ton. Demand is expected to rise by 5.5% in 2011 while supply is expected to rise just 2.2%.
One longer term supply issue is that about 1 million tons of zinc will drop from supply by 2014 as several currently operating mines close down. Leading zinc producers include Teck Resources Ltd. (NYSE: TCK), Xstrata plc (OTC: XSRAY), and Anglo American plc (OTC: AAUKY)
1 commentaire:
ZOLL !!!
thanks Gerry
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