MTECHTIPS:-Zinc to trade in 159.7-167.5

MTECHTIPS:-Zinc to trade in 159.7-167.5

MTECHTIPS-Zinc trading range for the day is 159.7-167.5. Zinc prices dropped pressured by weaker iron ore and oil prices plus concern about demand in top consumer China. Zinc prices were also knocked by a jump in available inventories, showing that supplies were adequate despite the closure of major mines last year. On-warrant LME inventories – those not earmarked for delivery and therefore available to investors – climbed by 11 percent to 179,325 tonnes. SELL ZINC JUN 2017 @ 164.00 SL 166.00 TGT 162.00-160.20. MCX.

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