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Commodities Briefing - Categorized | Metals and Minerals, Performance, Price Watch more

Zinc Prices Calm, But Metals Remains Top Performing Commodity as Supply Shrinks

Posted on 04 August 2016

Zinc remains the top performer of the 22 raw materials tracked by the Bloomberg Commodity Index, and is up over 41% this year. It is also the top performer of London Metal Exchange traded metals, with zinc stores monitored by the bourse down 30% from their last September peak. The metal is finding support at $2166 and is meeting resistance at $2294.
Even with its outstanding performance, investors remain bullish on the metal with open interest climbing to its highest since October. The reason for the rapid turnaround in the metal is a changing supply chain, with supply cuts and mining closures changing the market fundamentals, with a deepening deficit now expected………………………………………..Full Article: Source


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