The other part to the supply picture is China, where growth is slowing
sharply. After years of double-digit percentage growth, mine production
grew only 4% in 2013. That’s even slower than the official data sugg..
LONDON (Commodity Online):
The long anticpated
supply tightening in zinc is emerging as recent zinc mine corporate data
suggests, according to Barclays Plc.
Barclays which tracks close to 20% of global supplies reported that major zinc producers have reported 4% lower production on a year on year basis with ouput contracting at half the mines.
"During 2013, zinc performed fairly better than its peers from the
base metals complex, fetching a marginal negative return of 0.57%. In
the year 2011, zinc prices plummeted by 24%, the most among other base
metals on the back of supply surplus and high legacy inventory,"
according to Nirmal Bang Commodity Year Book 2014.
At India's Multi Commodity Exchange, Zinc for February delivery has
fallen from a high of Rs 130.35 last week to Rs 126.40 on Monday
trading.
Mine supply data
-GlencoreXstrata's Q4 13 results
show production dropped 9% y-o-y t due to shuttering of two big mins
Perseverance and Brunswick.
-Blackthorn Resources has suspended open pit opertions because of weak metal prices and unaccpetable financial results.
-Data from the International Lead and Zinc Study Group (ILZG) this week further illustrated the softer ex-China production performance: ex-China mine production did not grow at all in 2013.
-Blackthorn Resources has suspended open pit opertions because of weak metal prices and unaccpetable financial results.
-Data from the International Lead and Zinc Study Group (ILZG) this week further illustrated the softer ex-China production performance: ex-China mine production did not grow at all in 2013.
The other part to the supply picture is China, where growth is
slowing sharply. After years of double-digit percentage growth, mine
production grew only 4% in 2013. That’s even slower than the official
data suggest; NBS data show Chinese production up 9% y/y. In the past,
Chinese production tended to surprise to the upside, and that certainly
remains a risk
.
Activate MCX Free Trial, Just Give a MISSCALL to 09907222727
MCX Gold, Silver, Crude, Copper, Zinc, Lead, Nickel, Natural gas Buy & Sell Tips Free Trial. For More info contact at +91-731-6662200; 09907222727
http://www.capitalstars.com/services.php
MCX Gold, Silver, Crude, Copper, Zinc, Lead, Nickel, Natural gas Buy & Sell Tips Free Trial. For More info contact at +91-731-6662200; 09907222727
http://www.capitalstars.com/services.php
No comments :
Post a Comment
Your Comment Will Be Submitted!!!!