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Zinc May Trade Medium Term Perspective

ByCommodityOnline
Published 01/21/2014, 06:31 AM
Updated 05/14/2017, 06:45 AM



--Zinc was marginally down by 0.1% in the yesterday's trading session at the LME platform. The commodity declined marginally in spite of such huge fall of 6% in its cancelled warrants ratio.

--Broadly zinc stock piles have been declining. However the positivism on the inventory front is being negated by the cancelled warrants. Major movement in zinc was seen in the cancelled warrants, wherein the cancelled warrants ratio declined ov er 6% indicating lack of immediate requirement for the commodity.

--We expect zinc to trade in a ranged manner with slight negative bias as the commodity might be pressurized by the sharp fall in c.w ratio. However we are bullish on the commodity over the medium term perspective on the positive fundamentals of demand and supply.

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