Good Morning,
After abuse for over a year relating to Concha, its a poignant time to remind parties of: EMC: Concha - CHA Cha cha (No known links to Cuba) & congratulation to non-holders of CHA & Kefi. The market is finally pricing things in? It's about the money for now...but one to run away from.
The lack of reporting on the "convention" of base metal traders meeting this weekend to discuss...purchasing more metals. One might also need to consider that some out of the money traders will look to take the losses, but at least some Christmas cheers for those long. Expect some adjustments in stockpiling and the reporting of such numbers.
Glencore (GLEN) may not have to update the market on their Zinc pricing but it has not gone unoticed they've reduced their Chinese premium considerably, albeit tightened the band, it's still down. Previously $160-130/t to $125-110/t. Strangely in line with Korea and Hindustan producers.
Atb Fraser
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