EPIC RESEARCH MCX Zinc UPDATE OF 16 April 2019

Zinc trading range for the day is 226.5-231.9.

Zinc dropped on profit booking after prices gained amid greater-than-expected financing data from China improved market sentiment.

Stocks of refined zinc across Shanghai-bonded warehouses rebounded this week, and stood at 90,700 mt as of Friday April 12, up 3,500 mt.

Deficits have driven LME stocks to record lows and pushed zinc, used to galvanize steel, to a nine-month high of $2,958 on April 1.

Warehouse stock for Zinc at LME was at 56125mt that is up by 3925mt.


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