LME zinc is steady as fund and speculative investors pause for breath following Wednesday's 7% hike in prices with the charts looking technically firmer and further gains possible, a broker says. Notes the flow of fund money is the main driver of zinc right now, and given the number of market shorts an upside move was guaranteed. "An extension towards $3,700/ton looks quite possible, but it will be money, rather than metal driven," he adds. LME zinc trades at $3,465/ton, slightly off Wednesday's high but still +6%.
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