Monday, 18 January 2016

Zinc Newa Latest Update

Zinc settled down -1.57% at 100.15 as more equity losses in Shanghai increased concern that demand will slow in China. Industrial metals retreated as Chinese shares extended the world’s worst selloff this year, with data showing the country’s inflation in December stayed at about half of the government’s 2015 target. U.S. retail sales unexpectedly fell in December as unseasonably warm weather undercut sales of winter apparel and cheaper gasoline weighed on receipts at service stations, adding to signs that economic growth braked sharply in the fourth quarter

Trading Ideas:
Zinc trading range for the day is 98.6-102.
Zinc prices dropped as more equity losses in Shanghai increased concern that demand will slow in China.
The US Commerce Department said retail sales slipped 0.1 percent after an upwardly revised 0.4 percent gain in November.
Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 9,900 to 325,200 tonnes this past week, due mainly to growing outward shipments.
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