Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (901)	10/30/2001 2:56:27 PM
From: Stephen O	Read Replies (1) of 1643

Grupo did announce zinc cutbacks. They own Asarco. Copper later? Asarco to Suspend Zinc Production in Tennessee, Cut 360 Jobs Mexico City, Oct. 29 (Bloomberg) -- Asarco Inc., a metals producer owned by Mexico's Grupo Mexico SA, plans to suspend zinc mining and processing at its Tennessee facilities as zinc prices plunge. The move will eliminate 360 jobs and reduce Grupo Mexico's annual zinc production by about 56,800 metric tons. The suspension will be implemented in the coming weeks, the company said. ``At these prices, the Tennessee facilities simply are not economically viable,'' said Genaro Larrea, Asarco's president. Zinc prices have tumbled 26 percent this year to the lowest levels in over a decade as a slowdown in manufacturing damps demand and boosts worldwide zinc inventories. Zinc traded on the London Commodity Exchange today fell 1.1 percent to $774 per metric ton.

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