The 1-Day Jump That Shows Goldman May Be Right on Metal Cuts
- Zinc loses 4.3% to overturn gain after China supply-cuts plan
- Benefits of previous reductions have been fleeting, ANZ says
Commodities Slump Amid Global Unified Bearishness
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Zinc producers keep on cutting back and yet prices keep on falling.
After Glencore Plc cut a third of its supply last month to combat a rout, the price rallied 10 percent and the gains lasted a month. When producers in China did the same on Friday, the jump was smaller and got rolled back after a day.