Zinc May Witness Trading At $2014 Down By $6,Selling Recommended
CommodityOnline | May 02, 2014 07:19AM ET
On Thursday 3 month forward LME prices ended lower at $2021 down by $19 from its previous close. BY looking at the Zinc inventory and the price performance we understand that the commodity has been taking no cues from the stocks movement while the broad based sell off in the entire sector is pulling the metal lower. This morning at LME Zinc is seen trading at $2014 down by $6 from its previous close. We believe and as also discussed in the other section the commodity is expected to trade down today hence, we recommend selling for today’s trading session.
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