Moneycontrol
Jun 20, 2017 01:26 PM IST | Source: Moneycontrol.com

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.

For all commodities report, click here


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