EPIC RESEARCH MCX ZINC UPDATE OF 21 AUGUST 2018

Zinc trading range for the day is 165.3-169.5. Zinc dropped on profit booking after prices seen supported led by a rise in the Chinese yuan on reports the U.S. and China were looking to resolve their tit-for-tat trade war. The dollar sagged as investor demand for the safe-haven currency receded on optimism over a reduction in U.S.-China trade tensions. Social inventories of zinc across Shanghai, Tianjin and Guangdong shrank substantially from a week ago as imported cargoes moved directly downstream.

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