This is a little activity I do for myself to get a picture of...

This is a little activity I do for myself to get a picture of factors affecting KZL profitability. I am going to keep my interpretations very simple.

Brent crude: (this was partly the reason 0.5% of Chinese GDP was shaved off but the gains in the AUD makes imports cheaper)

Q1 - neutral, Q2 - neutral, Q3 & outlook = slightly negative+

AUD:

Q1 - very positive, Q2 - very negative, Q3 & outlook = neutral but further weakness needed for Q4

Copper:

Q1 - slightly negative, Q2 - very negative, Q3 & outlook = positive

Zinc: - Kagara's big underperformer...

Q1 - Very negative, Q2 - Extreme negative, Q3 & outlook = positive