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Base metals get sexier when their prices start to increase. When will that happen? Well, that's the million dollar question.Let's look at zinc. LME stocks have decreased from 320,000 Tons in April 2021 to 40,000 now. The price is currently depressed due to macro concerns, but as things start to turn around demand should improve.[ATTACH=full]149545[/ATTACH]As for lead, it is up from US$0.80/lb two months ago to around US$1/lb today. Let's see where is goes from here but it will largely depend on global macro factors. Obviously those in mining stocks for longer than a short term trade likely believe that most of the bad news has been priced into base metals already. That could be completely wrong, but it could just as easily be right.Time, as always, will tell.
Base metals get sexier when their prices start to increase. When will that happen? Well, that's the million dollar question.
Let's look at zinc. LME stocks have decreased from 320,000 Tons in April 2021 to 40,000 now. The price is currently depressed due to macro concerns, but as things start to turn around demand should improve.
[ATTACH=full]149545[/ATTACH]
As for lead, it is up from US$0.80/lb two months ago to around US$1/lb today. Let's see where is goes from here but it will largely depend on global macro factors. Obviously those in mining stocks for longer than a short term trade likely believe that most of the bad news has been priced into base metals already. That could be completely wrong, but it could just as easily be right.
Time, as always, will tell.
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