Zinc's relative under-performance is down to a build-up of excess metal as the global market shifts from supply shortfall to widening surplus.
It now thinks zinc supply will exceed usage by a hefty 248,000 tonnes with the surplus growing to 367,000 in 2024.
Zinc market balance forecasts by the ILZSGSHIFT TO SURPLUSThe zinc market's shift to surplus after two years of supply deficit is down to weaker-than-expected demand and higher-than-expected production.
European demand is expected to contract by 1.8% this year due to slowing activity in the construction sector, which accounts for around half of zinc demand in the form of galvanised steel.
LME zinc price, stocks and cash-3s spreadNOW YOU SEE IT...
Persons:
LME, Barbara LewisOrganizations:Reuters, REUTERS, OZ Minerals, London Metal Exchange, Citi, ThomsonLocations:Lawn Hill, Queensland, Europe, China, New Orleans, United States, Singapore, Malaysia's Port Klang
[1/2] Parts of a ghost gun kit are on display at an event held by U.S. President Joe Biden to announce measures to fight ghost gun crime, at the White House in Washington U.S., April 11, 2022.
The administration had said O'Connor's decision to grant an injunction favoring ghost gun kit makers despite the prior intervention by the justices "openly flouted" the Supreme Court's authority.
The administration has said that ghost guns are attractive to criminals and others prohibited from lawfully buying firearms, including minors.
There were about 20,000 suspected ghost guns reported in 2021 to the ATF as having been recovered by law enforcement in criminal investigations - a tenfold increase from 2016, according to White House statistics.
Plaintiffs including the parts manufacturers, various gun owners and two gun rights groups - the Firearms Policy Coalition and Second Amendment Foundation - filed suit to block the ghost guns rule in federal court in Texas.
Persons:
Joe Biden, Kevin Lamarque, Joe Biden's, Judge Reed O'Connor's, O'Connor, Sellers, Andrew Chung, Will DunhamOrganizations:U.S, White, REUTERS, Supreme, Blackhawk Manufacturing, Defense, Bureau, Alcohol, Tobacco, Firearms, Explosives, White House statistics, Firearms Policy Coalition, Gun Control, Circuit, Appeals, ThomsonLocations:Washington U.S, Texas, Fort Worth, United States, New Orleans, New York
Where to EatThe 25 Best Restaurants in New Orleans Right NowThere’s plenty of great Creole and Cajun food, of course, but also outstanding Vietnamese, Indian and Trinbagonian cuisine.
Locations:New Orleans
Stroud threw two touchdown passes and the Houston defense held the New Orleans Saints without a touchdown after the first quarter in the host Texans' 20-13 victory Sunday afternoon.
The Texans reached the New Orleans 1-yard line midway through the third quarter before settling for Ka'imi Fairbairn's 22-yard field goal and a 20-10 lead.
Blake Grupe answered with a 45-yard field goal that got the Saints within 20-13 at the end of the third quarter.
Six players later, Stroud threw a 1-yard touchdown pass to Schultz for a 7-0 lead.
Stroud added a 6-yard touchdown pass to Woods to increase the lead to 17-7 with 2:56 before halftime.
Persons:
Stroud, Dalton Schultz, Robert Woods, Derek Carr, Blake Grupe, Grupe, Carr's, Alvin Kamara, Carr, Steven Nelson, Zack Baun, Baun, Schultz, Rashid Shaheed, Fairbairn, WoodsOrganizations:New, New Orleans Saints, Texans, Stroud, Saints, Houston, NFL, ThomsonLocations:Houston, New Orleans
NEW ORLEANS (AP) — Plans by the Port of South Louisiana to purchase what was once a major New Orleans area shipyard for construction of military vessels have been delayed.
The port announced in January its intent to purchase the old Avondale Shipyard site from the current owner, port terminal operator T. Parker Host.
However, The Times-Picayune/The New Orleans Advocate reported Wednesday that the purchase has been put off after port officials faced questions last month from the state Bond Commission.
Host bought the site in 2018, roughly four years after the shipyard that once employed thousands was shuttered.
The proposed purchase would require more than $400 million in public financing.
Persons:
Parker, Paul Matthews, Tony Ligi, Bond Commission “, John Schroder, Jay Dardenne, Matthews, hasn'tOrganizations:ORLEANS, Port, Avondale Shipyard, The Times, New, New Orleans Advocate, Bond Commission, Host, “, Treasury, ”, Administration, AvondaleLocations:Port of South Louisiana, New Orleans, Avondale