Zinc's Wild Week May Signal Volatile Era as Supplies Squeezed [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- Zinc could see more sharp price swings as growing tightness along the metal's supply chain leaves buyers exposed to sudden changes in availability. Most Read from Bloomberg The material used to galvanize steel had a turbulent time on the London Metal Exchange last week, finishing almost 5% higher despite a 2.5% slump on Thursday. The spike was fueled by the withdrawal of huge volumes from LME warehouses, which stoked speculation of a potential squeeze on short-position holders. The volatile week underscored tight supply conditions that analysts see persisting into next year. Any production cuts — either by miners or smelters — could provide the catalyst for more short-term price spikes, Shanghai-based analysts at Guotai & Junan Futures Co. wrote in a note. The level at which it's safe to buy on dips was moving higher, they added. Zinc declined 0.4% to $3,091 a ton as of 11:02 a.m. local time on the LME, as a stronger dollar weighed on commodities. The dynamic
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