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Wednesday, February 14, 2007

Zinc

LME zinc jumps as a "fat-fingered" erroneous trade by one participant triggers stops and pushes the market above $3,300/ton, says a broker. Three-month zinc touches $3,379/ton, likely $100/ton higher than intended, the broker notes, and then slips immediately lower. "Brokers are temporarily confused as to where zinc's trading, and it's making the market volatile," the broker adds. LME zinc trades last at $3,305/ton, up 4% from overnight levels. (ADH)

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