Post by
galvanized on Aug 09, 2022 3:44pm
Glencore's Smelter Warning
https://www.reuters.com/markets/commodities/glencores-smelter-warning-galvanises-zinc-price-andy-home-2022-08-09/
Comment by
ljp0101 on Aug 10, 2022 8:16am
Article pegs NA physical premium at 900/t, 0.40/lb. Well done to our independent directors who seemingly hedged at 0.13/lb, although we won't have a completely clean number from the financials until Q3. Differential works out to the small sum of ~USD50m/year, CAD1.30/unit/year, of operating profit be redirected to Zug. Oops.