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LME Zinc May Witness Trading At $2041 Up By $10

ByCommodityOnline
Published 05/08/2014, 06:21 AM
Updated 05/14/2017, 06:45 AM



3 month forward Zinc prices at LME declined by $24 to settle the day at $2029. We saw a broad based sell off in the entire metals so the zinc too traded down. This morning at LME Zinc is seen trading at $2041 up by $10 from its previous close. We believe as the day progresses the commodity may eventually trade down and suggest selling from higher levels. News: The premium buyers are expected to pay for zinc in Europe was unchanged in the past six weeks, according to three people who trade the metal used to prevent steel from rusting. The premium is about $160 a metric ton, based on the median of midpoints from ranges given by the people, who asked not to be identified because the information hasn’t been made public. The surcharge is added to the price of zinc for immediate delivery on the London Metal Exchange. The people cited premiums in ranges between $145 and $165.

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