05-19-2008, 06:59 PM |
# 25 Quick Link (permalink)
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Calgary | | | | Re: Zinc=Money? | Is it possible in the hard cruel world that our diecast collections are now worth more for their scrap zinc value? | The following was copied from the wire service on Chinas earthquake: ’s earthquake is putting the brakes on close to 350,000 tonne of zinc smelting capacity in the earthquake-hit province and neighbouring provinces. However, at least 80,000 tonne of zinc smelting capacity was unaffected which would keep the market going. In addition to the Chinese earthquake, a labour strike at Anglo American Plc’s Namibian Skorpion mine, Africa’s largest zinc operation, is also hampering zinc production, with the week long dispute. Sichuan Hongda zinc factory in Shifang, about 100 kilometers (63 miles) from the epicenter, had a sign by the gate, saying: ``In the present extraordinary circumstances, all non- essential staff should stay at home.'' A wall had collapsed by the main gate and there were cracks in the buildings.
Zinc rose to $2,365 a tonne, ending the week close to 10% higher. Aluminium also climbed to $3,040. On MCX, aluminium May contract gained 6.58% at Rs 126.30 per kg, and zinc May contract went up by 4.71% at Rs 96.65 per kg. |
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