MCX Zinc settled up 0.22% at 205.35- Intraday Trading Tips

MCX Zinc, MCX Commodity  Tips, Intraday Trading TipsIn Multi Commodity Exchange, Zinc settled up 0.22 percent at 205.35 on concern that the tightness witnessed this year would also be a feature of the market next year. The global zinc market deficit extended to 36,900 tonnes in October from a revised deficit of 35,900 tonnes in Sept, as per data of International Lead & Zinc Study (ILZS) Group.
In the first nine months of the year, the zinc market shortfall was 4,01,000 tonnes vis a vis deficit of 1,95,000 tonnes in the same period last year.
Meanwhile, Glencore, the world’s top zinc miner, intends to increase production to take benefit of prices near a decade high. Overall production will drop to some extent in 2018 and gradually increase through 2020, The Zink is up almost 90% since Glencore announced production cuts in October 2015.

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