Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
TOKYO, Oct 1 (Reuters) – Mitsui Mining and Smelting Co Ltd , Japan’s biggest zinc smelter, plans to produce 114,600 tonnes of refined zinc during October-March in the 2018/19 financial year, it said on Monday, up 3.6 percent from the same period a year earlier.
Zinc is used mainly as an anti-corrosive coating while making galvanized steel.
Following are details of the company’s output plan, with comparisons against planned production in the first half of the 2018/19 year and actual production in the second half of 2017/18.
(Zinc and lead in tonnes, gold and silver in kilograms):
H2 FY18/19; H1 FY18/19; H2 FY17/18
Zinc: 114,600; 103,600; 110,600
Lead: 33,800; 32,100; 33,800
Gold: 2,700; 3,000; 2,500
Silver: 104,800; 80,300; 120,100
(Reporting by Yuka Obayashi; Editing by Sunil Nair)
