Zinc Prices May Trade Marginally Lower At $2055 Down By $11
CommodityOnline | Apr 30, 2014 06:00AM ET
3 month forward LME Zinc prices traded marginally lower last day to settle at $2055 down by $11 from its previous close. In the similar lines the April future ended at Rs. 123.15 down by Rs. 1.65 from its previous close. We saw more selling in the local market due to currency appreciation. This morning at LME Zinc is seen trading marginally lower at $2040 down by $4 from its previous close. We also believe that the commodity may remain lower for the day along with other metals. Hence, we are suggesting selling the future contract on today’s trading session. Also, since the April contract is expiring today we suggest taking positions in the May contract from today onwards for trading the positions.
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