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Zinc drops as investors take a break from year’s best commodity

Posted on 08 September 2016

Zinc dropped the most in a week as some investors closed out bullish bets on this year’s best-performing major commodity. The metal fell as much as much as 1.3% in London after touching a 15-month high on Monday. Zinc has rallied 45% this year on expectations of a supply shortage after mine closures from Australia to Ireland.
The advance pushed it near a technical level, suggesting to some traders that prices may be poised to retreat. “Perhaps some investors are taking profits,” Casper Burgering, an analyst at ABN Amro Bank NV in Amsterdam, said……………………………………….Full Article: Source


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