Tuesday, 27 June 2017

EPIC RESEARCH MCX ZINC UPDATE OF 27 JUNE 2017

Zinc trading range for the day is 172.8-177.2. Zinc remained supported and last week ended with its biggest weekly gain since November as inventories continued to fall, raising supply fears. The discount of the cash contract in LME zinc over the three-month contract has narrowed to zero, exchange data showed, suggesting a tighter LME market. Warrant cancellations were focused in LME warehouses in New Orleans, indicating that speculators rather than real demand were responsible.

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