EPIC RESEARCH MCX ZINC UPDATE OF 23 JULY 2018

Zinc trading range for the day is 174.5-184.9. Zinc prices ended with gains recovering from lows on short covering amid plunging inventories. Zinc inventory in SHFE warehouses plunged to a 10-year low after buyers took advantage of price declines and while supply remains restricted by local production cuts. Zinc social inventory in Shanghai, Guangdong and Tianjin inched up nearly 700 mt from a week ago to 99,900 mt as downstream buyers hesitated to purchase.

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