Lowest prices for Aluminium, Lead and Zinc on the MCX?

MANISH_DAMANI

Well-Known Member
#2
What are the lowest recorded prices for Aluminium, Lead and Zinc on the MCX?
Zinc-49.85 in 2008 High is 208.3 in 2006.
Almunium- 62.20 2009 151.45 in 2006
 

Klewtar

Well-Known Member
#3
According to those prices, metal prices are still probably double the cost of manufacture/extraction.
 

piyush08

Active Member
#4
Fair point.

Assuming,

1. Cost of manufacturing/extraction has remained the same.
2. Lows of 2008 were the point was the marginal cost of extraction.
3. Rupee is at same level as 2008 lows


All three are not true. None the less, making those adjustments would probably mean the bottomest bottom for these metals would be 20-30% higher from 2008 lows. But economic situation not so bad as 2008. That kind of panic not there.

None the less, after seeing 20-25% falls in lead, zinc, aluminium over past 3-4 months, I was like how much lower can they really go from here. Then i looked at long term charts and realized these have fallen 75% from top before.
 

Klewtar

Well-Known Member
#5
It helps knowing the cost of extraction so that I'm not hesitant to take short positions. Demand for copper seemed to be the only thing stopping metals from falling further yesterday.