LME Zinc Price May Trade Positive, Buying Recommended
CommodityOnline | Apr 23, 2014 05:06AM ET
3 month forward LME Zinc prices traded positive and ended the session at $2081 up by $19 from its previous close. We believe the commodity has the potential to trade higher and we recommend buying from lower levels. At the MCX platform, April future is seen trading at Rs. 127.10 up by 2.25% from its previous close. This morning at LME, Zinc prices are seen trading at $2088 up by $3. We believe the commodity may also trade higher on today’s trading session and we recommend buying from lower levels. The global Zinc stocks at LME also continuously trading down and on Tuesday the stocks stood at 0.798 million tons also likely to support the metal to move higher. For the day we recommend buying zinc from lower levels.
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