EPIC RESEARCH MCX ZINC UPDATE OF 07 FEBRUARY 2018

Zinc trading range for the day is 220.1-230.5. Zinc prices dropped tracking weakness in LME prices driven by a further decline in global risk appetite, and mildly tighter financial conditions in China. A fall in on-warrant inventories available to the market in LME-registered warehouses to 83,700 after 14,650 tonnes of fresh cancellations. Worries about a tight LME market have been reinforced by a large position holding between 80 and 89 percent of zinc warrants and cash contracts.

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