Zinc to trade in 161.8-166.8: Achiievers Equities
According to Achiievers Equities, Zinc prices ended with gains on rising steel prices and as inventories steel hit a nine-year low, highlighting a potential shortage of metal.
Achiievers Equities' commodity report on Zinc
Zinc trading range for the day is 161.8-166.8.
Zinc prices ended with gains on rising steel prices and as inventories steel hit a nine-year low, highlighting a potential shortage of metal.
Prices also seen supported after China's government said it was beating its targets for capacity closure.
The market focus is on New Orleans warehouses' on-warrant stocks which have dropped to 144,975 tonnes after a further 24,475 tonnes of cancellations.BUY ZINC JUN 2017 @ 163.50 SL 162.00 TGT 165.00-166.50.MCX.
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