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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn
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To: Stephen O who wrote (39)2/4/1999 4:49:00 PM
From: Ray Hughes  Read Replies (1) of 3270
 
Stephen:

Cominco held conference call yesterday during which zinc market situation was reviewed. They note that IZA has turned from forecasting 1999 supply surplus to forecasting deficit. Also noted that Korean and Thai zinc consumption was strengthening. That is important given that Korea is major consumer. Said Western European zinc consumption, while slower than year-ago, was steady. North America is "still quite good," and although there is a "fair degree of (zinc) availability" the Chinese are shipping lower grade metal suitable mostly only for the brass industry. On balance Cominco's assessment was not bearish.

One statement that merits close attention is that "there is a question whether Cortone (Italian smelter) (production) will continue." Its production rate is down significantly.

Further, we hear from a major London metal trader that zinc will move up sharply over the next three days.

RH
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