Zinc finished marginally higher by 0.3% at the LME platform marginally recovering from its intraday lows along with Copper and Aluminum.
- Even though the commodity saw a surge in its inventories by over 44,000 MT in the last week. However at present zinc stocks have started to decline and on broader perspective zinc stock piles still remain at lower levels.
We have a sell view on the commodity on a purely technical basis. However we hold a positive view on the commodity as zinc is one of the few commodities to be better placed than any other commodities in term of positive fundamentals of demand and supply.