Daily Mcx Tips Update - Zinc Market News

Zinc settled up 0.86% at 111.15 rallied on Wednesday after sliding to multi months lows, but concerns lingered over slumping commodities prices and China's cooling economy. Since this week Zinc continued its downward slide hit a 5-year low last Monday due to fears about rising stocks and falling demand in China. The base metal fell by its maximum daily limit of 5% in trading on the Shanghai Futures Exchange as a result, reported the Financial Times. The rising stocks can be placed at London Metal Exchange warehouses in New Orleans, which climbed nearly 60% over the past month, showcasing just how much zinc could be unloaded in the market. Zinc had some of the strongest fundamentals to begin 2015, signaling it as one of the strongest performers of any metal.
Zinc trading range for the day is 108.9-112.7.
Zinc prices bounced off as market players looked ahead to a pair of manufacturing reports due out of China.
Japanese big manufacturers' confidence worsened in the three months to September and companies were cautious on the outlook.
Zinc daily stocks at Shanghai exchange came down by 1851 tonnes.
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