ZINC MCX Magical Level ₹ 180, Any Rise Go Sell Sell, Below ₹ 180 Buy Karna Mana Hai.
Don’t Sell @ CMP Wait For Any Rise and Sell
Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
The stocks draw in China is partly due to an environmental clampdown in the country, where the Chinese State Council’s bid to curb air pollution has expanded and meant less mining to produce zinc concentrate and less smelting to produce the metal.
Maintenance across smelters continued to weigh on supplies. There were also no large inflows of imported materials this week while downstream consumption fell to the lowest level in a seasonal lull.
Zinc social inventory in Shanghai, Guangdong, and Tianjin rose in the week as arrivals from smelters and downstream consumers’ weak buying interest amid a low season drove up stocks in Tianjin and Guangdong. Meanwhile, limited imported materials saw inventory in Shanghai little changed. Zinc social inventory across the three regions increased by 6,100 mt from Monday to 103,300 mt, data showed. – Neal Bhai Reports
