EPIC RESEARCH MCX ZINC UPDATE OF 3 AUGUST 2018

Zinc trading range for the day is 172.6-181.6. Zinc recovered on short covering after prices dropped as U.S. officials confirmed a proposed increase in tariff rate on $200 billion worth of Chinese goods. Weak consumption in the low season shrank spot zinc premiums in the Shanghai market, expectations of imports also accounted for the lower premiums. U.S. President Donald Trump sought to ratchet up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports.

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