MARKET TALK: LME Zinc Ready To Uptick, Buoyed By Base Metals

LME Zinc looks ready to play catch up with the rest of the base metals complex as pressure from the destocking phase that started in December begins to ease, says analyst Will Adams of BaseMetals.com. "Stocks are making the fundementals look more depressed than they really are," he says,noting that warrants in locations such as Dubai are "tightly held." Notes base metals boosted by FOMC comments overnight that implied US interest rates may be kept on hold for longer. LME zinc traded last at $3,165/ton, up 1.5% on the day.