Caterpillar Inc (CAT) 加自选

11月，英国锌期货价格升至每吨3100美元，为11个多月来的最高水平，进一步证明精炼金属供应不足。国际铅锌研究小组编制的数据显示，尽管开采产量增长了6.3%，但今年精炼锌产量下降了2%以上。这与哈萨克斯坦和日本冶炼厂的产量限制是一致的，后者受到东宝安纳卡锌厂关闭的压力。同样，根据上海金属市场的调查，锌的处理费在去年年底为负后，上涨至每吨87.5美元。因此，伦敦金属交易所的库存降至3.5万吨，而年初为23.05万吨。该价值相当于不到一天的全球需求，导致至少自1997年以来最大的现金与3个月合约价差。

Zinc futures in the UK rose to $3,100 per tonne in November, their highest in over eleven months, amid further evidence of low supply of refined metal. Data compiled by the International Lead and Zinc Study Group reported that refined zinc production has fallen more than 2% this year despite the 6.3% jump in mined output. This was consistent with output curbs among smelters in Kazakhstan and Japan, with the latter being pressured by the closure of the key Toho Zinc Annaka plant. Likewise, treatment charges for zinc rose to $87.5 per ton after being negative in the end of last year, according to surveys from the Shanghai Metals Market. Consequently, stocks at the LME sank to 35 thousand tonnes, compared to 230.5 thousand tonnes at the start of the year. The value corresponds to less than one day of global demand, resulting in the sharpest cash to 3-month contract spread since at least 1997.