According to Achiievers Equities, Zinc prices gained as support seen after capacity cuts in China drove up steel prices by 3 percent.
Achiievers Equities' commodity report on Zinc
Zinc trading range for the day is 158.1-164.3.
Zinc prices gained as support seen after capacity cuts in China drove up steel prices by 3 percent.
The global zinc market deepened its deficit to 92,400 tonnes in April from a revised deficit of 72,700 tonnes in March, ILZSG data showed.
Euro zone industrial output grew in April and employment rose in the first quarter of the year to reach a record high, in fresh signs of healthy growth of the bloc's economy.BUY ZINC JUN 2017 @ 161.00 SL 159.80 TGT 163.20-164.80.MCX.
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