Oh look,I agree Mister.There is much nashing of teeth re a...

Oh look,I agree Mister.

There is much nashing of teeth re a possible move to surplus next year but until we see a reversal or flattening of the stockpile trend Im not one to believe analysts.It may well do but the stockpiles are the truth of the matter.

I mean one question to ask oneself is why have the funds suddenly gone short on zinc of late even in the face of reducing stockpiles.

The message Im getting is that there is now quite a lot of rate tightening world wide and I think the funds are getting a bit scared by this.

BUT as much as analysts scream that we are looking at a surplus in 2008 will they get it right.

Take Cu for example.They were all saying Cu was gone as the stockpile was rising fast but look at it now,almost back to 100Kt.

Go figure.

d.