Monday, 7 December 2015

Zinc trading range for the day is 100.9-105.5

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Zinc settled up 0.98% at 103.15 after a report showed U.S. employers added more jobs than forecast in November, boosting demand prospects. The rise in payrolls followed a gain a month earlier that was bigger than previously estimated, while the jobless rate held at a seven-year low, a government report showed. Even before Friday's release, data indicated that the U.S. labor market added more than 200,000 monthly jobs on average this year. 


The unemployment rate in November held steady at 5.0%, while average hourly earnings ticked up by 0.2%. Combined zinc inventories in Shanghai, Tianjin and Guangdong added 10,300 to 323,800 tonnes this past week. Tianjin’s zinc inventories fell only slightly. Shanghai saw zinc inventories grow on large inflows of imported zinc and normal supplies from zinc smelters.

Trading Ideas:
Zinc trading range for the day is 100.9-105.5.
Zinc settled up after a report showed U.S. employers added more jobs than forecast in November, boosting demand prospects.
The rise in payrolls followed a gain a month earlier that was bigger than previously estimated, while the jobless rate held at a seven-year low.
Zinc weekly stocks at Shanghai exchange came down by 519 tonnes.

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