MCX Zinc Base Metal Commodity Trading Tips CMP- 182 Dt 26 Aug 2019

MCX Zinc

Markit also reported that Germany’s factory sector remained in contraction, raising concerns over the global economy. The German IHS Markit PMI for manufacturing rose marginally to 43.6 in August, from 43.2 in July. Meanwhile, services PMI hit a seven-month low level of 54.4 as against the previous month?s reading of 54.5 and 54 anticipated.

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ZINC LME Tips and Forecast – Below 2566 Down Side Target 2520—2460 – Neal Bhai Reports

Some commodity traders have ramped up withdrawals of zinc from London Metal Exchange warehouses in recent months. However, the drawdowns may not be to fulfill customers’ spot demand, which is almost non-existent, multiple sources and traders told Fastmarkets. Zinc stocks in LME warehouses in Asia have dwindled to as little as 41,950 tonnes as of Monday September 29. This is the lowest level since April 2023.

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