The zinc market is going to become as tight as copper. Every speculator is buying zinc now.

Supply isn't going up as much as demand so the prices of metal, especially that of copper and zinc, are going up.

We expect earnings to improve sequentially in 2006 predicated on higher copper and zinc price realizations.

Gold, copper and zinc have been moving strongly, but currencies have been more difficult for people. The largest (managed futures funds) focus on currencies, and that's been more difficult.

This is no doubt a bullish factor. Copper, lead and zinc are the three metals that are suffering supply disruption from strike action.

The funds are likely to keep buying metals like copper, as overall macroeconomic indicators are still positive.