EPIC RESEARCH MCX ZINC UPDATE OF 9 MAY 2016
Posted by Unknown on 12:07:00 with No comments
Zinc trading range for the day is 122.5-127.5. Zinc prices gained as prices bounced back from lows on short covering after drop in dollar, while a deteriorating technical picture pointed to consolidation.
Recent zinc price gains failed to incentive large numbers of zinc smelters to restart.
Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 10,600 to 361,300 tonnes this past week.
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