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Gold/Mining/Energy : Breakwater Resources (T.BWR) -- Ignore unavailable to you. Want to Upgrade?

To: Giraffe who wrote (569)	11/10/1998 12:59:00 PM
From: jack marshall	Read Replies (1) \| Respond to of 962

Lots of mixed signals these days. Chinese zinc exports seen falling TOKYO, Nov. 9 (Reuters) -- Chinese exports of zinc and alloyed zinc could slump by more than 150,000 tonnes this year after surging by 146 percent to 556,007 tonnes in 1997, a Japanese government metal organization said Monday. The Metal Mining Agency of Japan said China was diverting zinc shipments to Europe and the United States from other Asian countries, with sales to the United States soaring 384 percent to 25,438 tonnes in the two months to August 31. Amid slack foreign demand, some major Chinese refineries were reducing output, but others continued to raise production. Many could still cover production costs despite falls in zinc prices on the London Metal Exchange, it said. "Break-even points for exports ... are estimated to stand at around $1,000 per tonne, which has not yet been breached domestically as well as abroad," the agency said. "Thus, despite continued increases in inventories, production is not falling at all.... Unless they cultivate new buyers, we are likely to see further rises in inventories and falls in domestic prices," it said. The agency estimated that by August, Chinese zinc inventories doubled from the start of the year, with domestic consumption estimated at 556,000 tonnes in the eight months, output at 885,000 tonnes and exports at 228,000 tonne Pasminco says the Chinese can only produce 850,000TPA steady state yet this implies annual production potential of 1,300,000 T. Who to believe? When are we going to get some decent info!

To: Giraffe who wrote (569)	11/12/1998 8:27:00 AM
From: Giraffe	Read Replies (1) \| Respond to of 962

Slightly off-topic but possibly relevant to zinc price/supply... METALS: Tin price recovers after Tuesday ploy By Kenneth Gooding and Paul Solman Strange things are happening in the London Metal Exchange's tin market. Not only has a supply squeeze developed but, traders suggest, a clever ploy on Tuesday forced the tin price down at a time when a big fall in stocks was revealed. Stocks fell by 600 tonnes but so did the three-month tin price, by $80 to $5,425 a tonne. Yesterday, the price recovered by $25 but the squeeze continued and the premium for tin for immediate delivery, compared with three-month metal, remained $50 a tonne