Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (31844)	10/26/2004 9:41:58 PM
From: Stephen O	Read Replies (1) \| Respond to of 39344

VANCOUVER, British Columbia, Oct 26 (Reuters) - World zinc demand is robust, with appetite continuing into the autumn in the key markets of North America and China, Teck Cominco Ltd. (TEKb.TO: Quote, Profile, Research) (TEKa.TO: Quote, Profile, Research) , the owner of the world's biggest zinc mine, said on Tuesday. "Overall (zinc is) still a good market," said David Thompson, Teck Cominco's chief executive. He did not provide any supply and demand forecasts but the International Lead and Zinc Study Group this month forecast a Western World deficit of 157,000 tonnes of refined zinc in 2004 and a shortfall of 101,000 tonnes in 2005. Zinc prices are a third stronger than they were at the beginning of last year, U-turning on stronger Chinese demand after three years of weakness caused by a glut of supply. Zinc is used to galvanize other metals and stops items such as lamp posts and cars from rusting. Thompson said demand in North America for zinc was fairly strong and steady during the summer and into the fall. "We haven't seen any drop off at all yet in demand in that area," he said. Demand in Europe remained fairly flat, was strong in Japan and good in South Korea. "China as far as we can see continues strong. There hasn't been the de-stocking that we have seen in copper," he said. Thompson was speaking on a conference call to discuss Teck Cominco's third-quarter results, which showed earnings rising seven-fold to C$120 million ($98 million) because of buoyant copper, zinc and gold prices. The Vancouver, British Columbia-based company owns the huge Red Dog zinc mine in Alaska. Zinc traded at 47 cents a pound on Tuesday.