Zinc

[Lone Clone]

Zinc market in surplus in first two months of 2007 - report
Wednesday, April 18, 2007 1:51:29 PM
http://www.afxpress.com


LONDON (Thomson Financial) - World demand for zinc grew in the first two months of the year, but so did global production of the metal, leaving the market in a surplus of 84,000 tonnes, said the World Bureau of Metal Statistics

The independent research body said demand grew by an annual 23,000 tonnes in January through to February to 1.748 mln tonnes, while production increased by 171,000 tonnes to 1.832 mln tonnes

Turning to stocks, the WBMS said while reported stocks were some 27,000 tonnes higher at the end of February, the proportion of total stocks held in LME warehouses has declined steadily since end 2005

At 2.29 pm, LME zinc for three-month delivery was down at 3,720 usd a tonne against 3,720 usd at the close yesterday