Monday, 6 August 2018

EPIC RESEARCH MCX Zinc UPDATE OF 6 August 2018

Zinc trading range for the day is 174.2-185.4.

Zinc prices rallies after reports that China's PBoC adjusts reserve requirement on FX forwards trading to 20%.

Social inventories of zinc in Shanghai, Guangdong, and Tianjin grew 11,600 mt from last Friday to 115,000 mt as of Friday August 3, data showed.

Stocks in Guangdong and Tianjin rose as more cargoes arrived from smelters. Inventories to extend its increase next week as more imports are likely to enter the market.

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