Tuesday, 4 July 2017

EPIC RESEARCH MCX ZINC UPDATE OF 04 JULY 2017

Zinc trading range for the day is 178.1-185.1. Zinc gained as the market fretted about shortages, dwindling stocks and expectations of strong demand from top consumer China. Macquarie expects a 650,000 tonne zinc shortfall this year and sees prices breaching $3,000 a tonne by the fourth quarter of this year. Zinc stocks in LME warehouses at 289,275 are down more than 30 percent this year, while those by SHFE have tumbled nearly 60 percent to less than 65,000 tonnes.

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