Zinc Canceled Warrants Triple After Force Majeure Declared, Macquarie Says!

• Zinc is going into a panic run on supply it seems. It won’t be long before the runs on gold and silver begins. The LBMA and COMEX do not have the physical inventory to meet their obligations. Silver will be particularly bad as it is needed in alot of manufactured goods, particularly in the electronics industry (think IPad, IPhone…). At 100:1 naked leverage, the LBMA and COMEX are clearly bust when it comes to precious metals!
    
  Traders tripled orders to withdraw zinc from warehouses monitored by the London Metal Exchange, most of it in New Orleans, after a producer suspended supply contracts, Macquarie Group Ltd. said.
   
  There are “supply worries” after a producer declared force majeure earlier this week, Macquarie said in a report dated Aug. 9. Metal booked to be withdrawn from LME-monitored warehouses climbed to 65,150 metric tons yesterday, from 20,775 tons the day before, according to the exchange.

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