Saturday, October 4, 2008
UPDATES ON OCT 4 2008
OCT 4 SATURDAY
Zinc fell 11 percent this week and, tin dropped 6.7 percent .
Zinc has support at $ 1500 and Resistence at $ 1800.
Zinc is at $ 1580 and unchanged and prices on the verge
of taking out token support at $ 1600.Analyst say it
is hard to say where the next support is after $ 1500.
Zinc has given up most of its multi year price run
with prices close to or below the cost of production
we should start seeing more aggressive supply cut
backs kick in.
Zinc fell 11 percent this week and, tin dropped 6.7 percent .
Zinc has support at $ 1500 and Resistence at $ 1800.
Zinc is at $ 1580 and unchanged and prices on the verge
of taking out token support at $ 1600.Analyst say it
is hard to say where the next support is after $ 1500.
Zinc has given up most of its multi year price run
with prices close to or below the cost of production
we should start seeing more aggressive supply cut
backs kick in.
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