Looks like a worthwhile punt on the CR based on todays report from the London Metals Exchange as follows:-
London zinc hit its highest in almost a decade on Wednesday, as Chinese infrastructure demand that has fed a rally in steel prices for months spills into markets for steelmaking raw materials.
The rally in zinc, used for galvanising steel, comes as China steps up plans to develop infrastructure while capacity cuts in its steel industry reform boost prices, said analyst Daniel Hynes of ANZ in Sydney.
"There (was) a fair level of scepticism at the start of the year when China's infrastructure projects were announced but we're seeing much better-than-expected growth in fixed asset investment," said Hynes. "That resetting of expectations is resulting in that much more positivity to the sector."
FUNDAMENTALS
- LME ZINC: London Metal Exchange zinc CMZN3 peaked at $2,990 a tonne, having cracked its Nov. 2016 high to take prices back to their most expensive since Oct. 2007
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Looks like a worthwhile punt on the CR based on todays report...
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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3 | 477133 | 0.015 |
1 | 1000000 | 0.014 |
2 | 1076920 | 0.013 |
3 | 1133280 | 0.012 |
1 | 272725 | 0.011 |
Price($) | Vol. | No. |
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0.017 | 438508 | 2 |
0.018 | 1900000 | 2 |
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0.020 | 1549960 | 2 |
0.021 | 843000 | 2 |
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