Zinc was marginally down by 0.2% in the yesterday's trading session at the LME platform.
Broadly zinc stock piles have been declining. However the positivism on the inventory front is being negated by the cancelled warrants. Zinc cancelled warrants ratio of zinc declined from 519725 MT to 296925 MT indicating lack of immediate requirement for the metal.
We are recommending selling in Zinc on the back negative Chinese data depicting the weak manufacturing sector in the country which reeling under over capacity and lack of new orders.