BUY ZINC MCX TIPS TODAY CMP 220.50—219.50 TARGET 222 — 224 SL PAID. MCX zinc yesterday settled down by 2.63% at 216.35 amid profit booking as dollar seen supported due to continued concerns over the timing of more U.S. economic stimulus.
Zinc MCX Tips Today Hit Full Target High 198.90, MCX Zinc yesterday settled up by 0.88% at 193.60 on Chinese demand and hopes Sino-U.S. trade tensions were easing.
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MCX Zinc settled down 0.42% at 191.5 as pressure seen after China’s industrial output grew significantly slower than expected in October despite of decline in LME zinc inventories. China’s central bank lowered the interest rate on reverse repurchase agreements by five basis points, the first reduction in the short-term liquidity tool in more than four years.
MCX Zinc settled down 0.57% at 183.1 as deliveries to LME-approved warehouses lifted LME zinc inventories for two consecutive days, but the stocks are unlikely to further grow.