RE:RE:RE:RE:Spot zinc 1.20$ No indication of timelines here is what he said .. Base metal prices extended gains for a sixth day, led by zinc, as optimism for a U.S. stimulus package resurfaced and data signaled Chinas continued economic recovery [JH: This is important, they will be looking to stimulate economy without doubling prices due to their own demand as in 2002-06. However, an increase in Chinas demand could easily get us into the $1.25-1.50 range]. U.S. equity futures rose after the White House shifted tack on Thursday, signaling that the administration is again leaning toward a large-scale stimulus bill after House Speaker Nancy Pelosi pushed back on the idea of individual measures for parts of the economy hit by the Covid-19 crisis. In China, the yuan strengthened and stocks rose with traders returning to work after the Golden Week holiday. The Caixin China services PMI for September beat estimates and the composite PMI showed a fifth consecutive month of expansion [JH: Also good]. That helped copper climb toward a two-year high set last month. Iron ore futures gained amid a broader rally in industrial metals as Chinas financial markets reopened after a week-long holiday [JH: THIS IS THE SEASON WHERE CHINA QUIETLY COMES BACK TO THE Iron Ore METAL MARKET> and buy at lower prices through our holiday season. The reason is that they need to fill stockpiles before monsoon season in February when they cannot ship as much from Australia to meet H1 demand, this is an annual trend that is not guaranteed but common.] and export figures from Australia pointed to robust demand. Exports from Port Hedland totaled 45.6 million tons in September, the highest ever for the month, with figures from Brazil showing the worlds second-biggest exporter shipped the most iron ore in more than four years. Rio Tinto Group is set to release its production report next week, offering investors further clues on the state of both supply and demand. In China, attention turns to the outlook for steel consumption ahead of the Communist Partys plenary session later this month, where policies related to infrastructure and real estate will be closely watched. [JH: They will have to galvanize some of it.]