--Zinc has also been another strong performer gaining by 5% along with aluminum in the last three weeks.
--Zinc inventories have been broadly declining since last thirty three trading sessions. However the positivism on the inventory front is being negated by the cancelled warrants which have declined from a high of 564,850 MT to 221,825 MT.
--There is no major fundamental update regarding the commodity and we hold a ranged view for the day. However we have a positive outlook on the commodity in the medium term as the commodity which has been in supply surplus for the last five years has fallen into deficit.