Trinity Options And Futures Group Talks Zinc At Singapore Derivatives Market Forum
Addressing this year's Singapore Derivatives Market Forum on behalf of Trinity Options and Futures Group (TOF Group), David Duncan provides the firm's outlook on Zinc.
- (1888PressRelease) September 30, 2010 - Speaking at the Conference, he said that the firm remains bullish on its outlook for base metals, including zinc, over a two year horizon from both a fundamental and inflationary perspective.
TOF Group also maintains that over the medium term, China has surprised markets by its supply response this year, which has witnessed the reversing of both mine and smelter production cuts. According to the firm, this may well result in a potential delay to the upside, thereby short-circuiting the current strength. As a result significant stockpiles are now building in China.
Turning to the here and now, TOF Group believe that prices may drift lower, reflecting a surge in Chinese supply and awaiting 'real' demand growth. However, the firm maintains the only real positive environment for metals is China and is sceptical as to the 'green shoots' argument in relation to Western market economies. They also retain that there remains a real possibility for markets to take a step towards the downside in 2011
Chief Executive of TOF Group Roger Harisson, as well as other representatives of the firm from the London and Singapore offices also attended, underlying the importance with which the firm regards the Chinese market and its potential for growth and future expansion.
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