MCX Zinc Tips Today: Zinc yesterday settled down by 0.11% at 234.65 but prices recovered from lows as speedy vaccination rollouts and trillions in dollars of economic stimulus lifted hopes of a robust global economic recovery and higher demand for metals.
Zinc Inventory and Support Level
MCX Zinc Tips: Enjoy or Not 217.50 To 230 [Premium Member Mint Money]
MCX Zinc Tips: Zinc yesterday settled up by 1.25% at 226.45 amid falling US dollar and US Treasury yields, and the International Monetary Fund raised its 2021 growth outlook for the global economy to 6%.
Zinc Supply Cuts Outstripped By Demand Destruction from Coronavirus
Collapsing demand for zinc caused by the novel coronavirus will swamp supply cuts from major producers Peru and India this year and leave the market with a massive surplus that will weigh on prices of the material used to galvanise steel.
MCX Zinc Day Trading – Below 194 Under Selling Zone Target 188—187
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.