Investing.com - Financial Markets Worldwide

Zinc Buying Recommended At Lower Levels

ByCommodityOnline
Published 04/16/2014, 06:20 AM
Updated 05/14/2017, 06:45 AM



3 month forward LME Zinc prices showed a marginal decline in the prices and ended the day at $2045 down by $8 from its previous close. In the similar lines April future ended at Rs. 123.45 down by Rs. 0.30 from its previous close. We saw a marginal decline in the prices while the commodity has been rising for the past few sessions due to decline in stocks a slight improvement in the cancelled warrant ratio.

This morning at LME zinc is seen trading at $2047 down by $3. We believe this may have been the temporary loss while as the day progresses possibly the commodity may move higher. For the day we expect the commodity to trade marginally higher supported by higher equity markets and the likely positive housing data from the US. Therefore, we are recommending buying the commodity from lower levels.

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