Zinc - Market trends and analysis

摘要

Zinc prices have taken off again this week, racing above $2,360/tonne in trading early today (Tuesday). Bulls are clearly still gunning for zinc and judging by the way aluminium has maintained its surge too and how nickel has come off further, it would appear that CTA and other speculative and momentum-type funds are continuing to switch their stale long positions from nickel to zinc and aluminium. The perception of growing tightness on the back of supply-side issues and robust demand are the main fundamental attractions to speculators in these markets, but we feel that prices are running ahead of themselves somewhat now.