MCX Zinc for April expiry was trading with mild losses of 0.20 percent. The prices were last seen at Rs 100.7 per kg. Decline in MCX Zinc contract is majorly on account of lackluster trend in whole metals pack. Other metals like Copper and Nickel were trying to recover while slow metals like Lead, Aluminium and Zinc were in losses. Zinc is used in galvanizing of steel produce.
Recently, ILZSG in its report has said that Zinc markets are expected to remain in surplus of 273000 tonnes in 2013. Refined Zinc metal production is expected to reach 13.25 million tonnes, which is up by 5.2 percent from last year. Global refined Zinc usage is expected to move up by 5.2 percent to 12.98 million tonnes in 2013.
Source by Commodity Insights
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