MTECHTIPS:-Zinc to trade in 177.2-186

MTECHTIPS:-Zinc to trade in 177.2-186

MTECHTIPS-Zinc trading range for the day is 177.2-186. Zinc dropped on profit booking after prices gained earlier on news that China could ban imports of some scrap metal, from the end of 2018. Total production of zinc concentrate during January-July is expected to be 2.287 million tonnes (zinc content), up 1.6% on a yearly basis. China’s zinc concentrate imports will fall to 190,000-200,000 tonnes in August after stabilizing through July and July. BUY ZINC JUL 2017 @ 181.00 SL 180.00 TGT 182.40-183.50 .MCX.

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