MTECHTIPS:-Zinc to trade in 173.5-179.7


MTECHTIPS:-Zinc to trade in 173.5-179.7

MTECHTIPS-Zinc trading range for the day is 173.5-179.7. Zinc prices continued its firm trend benefited from a decline in exchange stockpiles. Cancelled warrants at more than 70 percent of LME stocks at 299,875 tonnes are fuelling concern of a tight LME market. Cash zinc was at a $2.75 discount to the three-month contract from around -$15 mid- month, indicating supply side stress. BUY ZINC JUN 2017 @ 176.00 SL 174.00 TGT 177.80-179.50. MCX.

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