Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Zinc May Trade Positive For Medium Term, Selling Recommended

ByCommodityOnline
Published 01/31/2014, 05:43 AM
Updated 05/14/2017, 06:45 AM


--Zinc marginally declined by 0.5% in the yesterday`s trading session at the LME platform broadly declining along with the other base metals.

--Broadly the zinc stocks have been declining since last two months As per the latest data available at the LME designated warehouses zinc stocks declined by 77,025 MT during the last twenty trading sessions. However cancelled warrant for the commodity has declined from 546,600 MT to 274,300MT which is the lowest levels witnessed in the last three months indicating lack of immediate requirement for the metal. The positivism on the inventory front is being negated by the cancelled warrant.

--For the day we recommend selling zinc from the higher levels .However we are positive on the commodity over the medium term as zinc is one of the few commodities which is better placed when compared to other commodities in terms of positive fundamentals of demand and supply and the potential decrease in Mined supply due to closure of major zinc mines bodes well for the commodity over the medium term.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.