Zinc Prices Keep Strength Going Their Way

Zinc prices remained strong in the mid-day trades. The prices are expected to recover on technical breakouts. MCX Zinc is trading at Rs 119.40 per kg up 1%. The prices are expected to climb towards Rs 120.50 levels in next few sessions.

The global zinc market was in surplus by 403,000 tonnes in the first 10 months of 2009, the Lisbon-based International Lead and Zinc Study Group`s (ILZSG) monthly bulletin showed recently.

Global refined zinc use was 8.831 million tonnes in the January to October period, down from 9.695 million tonnes a year earlier. World refined zinc output was 9.234 million tonnes, down from 9.761 million in the same period last year.

Source : Capital Market