Last numbers: March 26, 2012Summary: Shanghai zinc inventory...

Last numbers: March 26, 2012

Summary: Shanghai zinc inventory trend leading up to May has reversed. LME backorders doubled - demand source: Chicago. Options traders correctly predicted a fall in copper prices.

Copper: (outlook - slightly negative but improving)

LME Gross - 259,675 (up from 255,450)
LME Backorder - 77,725 (down from 85,500)
LME Net available - 187,050 (up from 169,675)



Zinc: (outlook - improved)

LME Gross - 895,700 (up from 889,975)
LME On back-order - 21,475 (up from 14,100)
LME Net available - 873,675 (down from 875,875)

Open interest of commodity traders:

Metal	Copper	Zinc
Call options	86041	42271
Put options	128467	20822
Prior	(up/down to current data)
+1.34%	84884	46696	-10.46%
-4.29%	134226	25539	-18.46%

----focus on Shangai----