Zinc - Market trends and analysis

摘要

Zinc prices have held up well considering the weakness elsewhere recently. A dominant position holder of cash and ‘tom’ warrants controls 50-79% of both categories, which has kept the spreads tight (cash to three-months averaged a contango of $2/tonne last week). It may have also deterred shorters and encouraged some covering of short positions given movements in open interest and decent turnover.