Zinc Tips

Large chunk of Aluminium is getting deposited in LME warehouses these days. Steady production levels from China and other parts of the globe and destocking of producers is resulting in the stocks getting accumulated in the London warehouses.
Aluminium inventories have been at all time highs and if the current inflows continue it would be a huge chunk capable of controlling prices at these levels for next year as well. LME inventories of Aluminium increased by 65200 tonnes to 5172500 tonnes today.
The heavy rise in inventories is due to attractive financing deals that allow traders to put their produce in warehouses with deliveries at a later date. Cost of funding is generally lower that makes these deal an instant hit. However with metal getting delivered in warehouses at a rampant pace prices are getting support of near term tightness.
LME Aluminium forwards was trading at $ 1978 per tonne on Tuesday. The metal settled at $ 1946 per tonne last night. Higher inventories is expected to be a dragger for long term appreciation in Aluminium though in short run spot markets supply tightness is aiding.

Zinc Tips

The Minister of Steel, Shri Beni Prasad Verma has said that during the year 2011-12, the country's total production of iron ore was 169.66 million tonnes (provisional) as against the total estimated consumption of about 116.3 million tonnes by the domestic iron and steel industry. Therefore, production of iron ore in India was in excess of the total estimated domestic consumption by the iron and steel industry. 

As per the available information, the hard coking coal spot prices are on a declining trend in international market during last one year and have fallen from the level of $310 per tonne in June, 2011 to $145 per tonne in October, 2012 (Free on Board (FOB) Australia; Source: SBB, as provided by Economic Research Unit, Ministry of Steel).