Zinc settled down -0.72% at 117.40 slid on Tuesday as mixed trade data revived fears about China's economy, despite showing a surge in imports of the metal. LME Zinc slid 1.3 percent to $1,820. While the metal soared 10 percent on Friday in its largest single-day gain in at least a decade following the Glencore supply cuts. Data released earlier showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.
Trading Ideas:
Zinc trading range for the day is 115.3-119.9.
Zinc prices declined after latest trade figures out of China added to concerns over the health of the world's second-biggest economy.
Data showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.
Chinese exports slumped 3.7% from a year earlier, better than forecasts for a decline of 6.3%
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Trading Ideas:
Zinc trading range for the day is 115.3-119.9.
Zinc prices declined after latest trade figures out of China added to concerns over the health of the world's second-biggest economy.
Data showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.
Chinese exports slumped 3.7% from a year earlier, better than forecasts for a decline of 6.3%
For More Information : Bullion Tips, McxTrading Tips, Mcx Tips, Commodity Market Tips,Bullion Trading Tips,mcx market tips,Mcx Trading Tips,commodity tips,Commodity market tips
Zinc can be recycled indefinitely, without loss of its physical or chemical properties.
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