EPIC RESEARCH MCX ZINC UPDATE OF 7 AUGUST 2018

Zinc trading range for the day is 175.6-181.8. Zinc dropped as prices face strong pressure from the US-China trade disputes and a slowdown in Chinese economic growth. China’s central bank said it would require banks to keep reserves equivalent to 20 percent of their clients’ foreign exchange forwards positions.

Social inventories of zinc in Shanghai, Guangdong, and Tianjin grew 11,600 mt from last Friday to 115,000 mt. Warehouse stock for Zinc at LME was at 233525mt that is down by -750mt.

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