MTECHTIPS:-Zinc to trade in 167.6-172.2

MTECHTIPS:-Zinc to trade in 167.6-172.2

Zinc trading range for the day is 167.6-172.2. Zinc gained as support seen after Shanghai zinc inventories fell to their lowest in more than two years at 91,749 tonnes. Zinc spot premiums in Guangzhou contracted rapidly due to increased supplies. The National Bureau of Statistics (NBS) data show China’s zinc production fell 5.6% year- on-year to 474,000 tonnes in April. BUY ZINC MAY 2017 @ 169.80 SL 168.00 TGT 170.80-172.00. MCX.
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