Market Update

Monday, 24 April 2017

Free Base Metal Tips; Zinc to trade in 163.5-172.5

Zinc to trade in 163.5-172.5

Zinc dropped tracking LME prices closed 1.8 percent lower at $2,584 as recent price gains have spurred miners around the world to increase output.

Commodity report on Zinc

Free Base Metal Tips

Zinc trading range for the day is 163.5-172.5.

Zinc dropped tracking LME prices closed 1.8 percent lower at $2,584 as recent price gains  have spurred miners around the world to increase output.

WBMS data show global zinc market was in 177,000 tonnes of deficit during January and February 2017, compared to 258,000 tonnes of deficit in 2016.

Expected shortages of zinc, may not materialize this year because recent price gains have spurred miners around the world to increase output.

BUY ZINC APR 2017 @ 165.00 SL 164.00 TGT 166.50-168.00.MCX.

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