ZFX - Zinifex Limited

[Joe Blow]

Wake up !!!!...and buy more!...

should rocket to $18 within 2 weeks if I'm not mistaken.....buy now...

Pacer, please ease up on this kind of blatant ramping.

 

[pacer]

What???....My ramping a multi billiondollar stock will change anything???....

I only ramp my small stocks....especialy NEO.....lol....

Pacer, please ease up on this kind of blatant ramping.

 

[Fab]

It should bounce back today after Zinc went up overnight. It will be interesting to see how high it bounce back so

 

[rwkni1]

Zinc actually dipped 1.5% last night, but i still wouldn't be surprised to see ZFX consolidate after that kind of profit taking. LME inventories continued to fall.

 

[Fab]

Kitco shows that it dipped 0.34%

 

[stoxclimber]

fab, kitco is often incorrect - use Selftrade (thx to a recommendation by an ASF poster)

Here's zinc:

http://focus.selftrade.co.uk/en/det...large.html?sSymbol=Q_EUR_GS0000000097_U01.SON

 

[nizar]

fab, kitco is often incorrect - use Selftrade (thx to a recommendation by an ASF poster)

Here's zinc:

http://focus.selftrade.co.uk/en/det...large.html?sSymbol=Q_EUR_GS0000000097_U01.SON

Or basemetals
http://www.basemetals.com/

 

[stoxclimber]

Nice recovery in general by the zinc sector after the panic selling of this morning - 1.5% fall was a pretty good result overnight.

 

[Fab]

Yes indeed. My question is why zinc price has been following when there is no reserve left of it ??

 

[stoxclimber]

Finance theorists will tell you its a random walk =)..


The cancellations have dried up for zinc with the price rise...hopefully this correction will get some interest again - only 25t of zinc was cancelled last night..

 

[nizar]

Yes indeed. My question is why zinc price has been following when there is no reserve left of it ??

Because of hedge funds and speculators.
They dont care about long term picture, they are in profit, they dump, and they exit. Simple as that.

Look what happened in the May correction. Stocks were still going down. From May-June, the stockpile/reserves went from 260ktonnes to 230ktonnes (YES THEY FELL) yet the price went from us$1.80 to us$1.35/lb.

There are corrections in every bullrun. You gotta take profits sometimes.

 

[Kauri]

Yes indeed. My question is why zinc price has been following when there is no reserve left of it ??

How much of the worlds supply is actually represented by the LME registered stockpiles worldwide, how much, if any, is traded on the spot market, how much is sold directly by producers to refineries under long term contracts?? Do many of the LME contracts over metals actually make it to the physical delivery stage??
In short, how important globally are the LME stockpiles, and what do they represent.

 

[nizar]

How much of the worlds supply is actually represented by the LME registered stockpiles worldwide, how much, if any, is traded on the spot market, how much is sold directly by producers to refineries under long term contracts?? Do many of the LME contracts over metals actually make it to the physical delivery stage??
In short, how important globally are the LME stockpiles, and what do they represent.

THey represent a reserve from which if producers metal does not cover demand, then metal may be taken out of these reserves.
Producers often sell their metal at a 20-25c premium to the LME prices.
LME stockpiles represent the stockpile of metal globally. As the contracts become closer dated, then smelters and producers are in control, but the long dated contracts, the speculators and hedge funds are in control, just like with any other commodity futures.

The LME monitors the amount of metal going in and out of reserves all over the world.

This website gives a more accurate picture than kitco:
http://www.basemetals.com/stocks.aspx
(click on the magnifying glass)

The above is just my understanding. Rederob can give you a more detailed, and perhaps more accurate response.

 

[Fab]

Interesting ZFX went back into red territory at the very end of this session . Why ??

 

[chops_a_must]

Pacer, please ease up on this kind of blatant ramping.

Come on, this ramping is hilarious. As opposed to the ADI thread.

 

[Fab]

OOPs , ZFX appears to be going through a massive correction in the last few days

 

[ctp6360]

Makes me feel like less of a loser for selling a massive stake in ZFX at around the $12 mark not long ago!

 

[stoxclimber]

Fab: Yup it is. To me this is a huge buying opportunity and I'll be investing a large chunk of my portfolio in ZFX as soon as the cancellations pick up for LME stocks.

 

[Fab]

Fab:I'll be investing a large chunk of my portfolio in ZFX as soon as the cancellations pick up for LME stocks.

What do you mean by the above statement ?

 

[stoxclimber]

The cancellations in LME died off with the big spike in zinc prices but they seem to have picked up a bout with 800 overnight. If this continues then it confirms zinc stocks are going to keep falling hard in the short term..and there's not much left.