EPIC RESEARCH MCX Zinc UPDATE OF 18 April 2019

Zinc trading range for the day is 224-228.6.

* Zinc gained as support seen after a raft of Chinese data signalled Beijing’s recent stimulus drive might be paying off.

* On-warrant zinc stocks in warehouses tracked by ShFE also marked a 7-percent daily increase to 51,976 tonnes.

* As the monthly delivery of cargoes under LME contracts approaches, the backwardation structure on LME zinc rapidly widened, resulting in higher social inventories.


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