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Zinc and Copper Latest News for 30 Dec 2016

Zinc and Copper Latest News for 30 Dec 2016

Zinc trading range for the day is 166.7-177.5.Zinc on MCX settled down -3.13% at 170.45 slipped as profit-taking set in after previous gains. Sentiments also dropped as Chinas demand for the metal is expected to slow down in the course of 2017.Technically market is under long liquidation as market has witnessed drop in open interest by -32.17% to settled at 2380.

Copper trading range for the day is 369.7-382.9.Copper dropped as markets fretted about the higher dollar and the potential for a liquidity crunch in top consumer China. Copper broke above $6,000 a tonne in November after Donald Trump won the U.S. presidential election and boosted hopes of infrastructure spending and higher consumption Technically market is under long liquidation as market has witnessed drop in open interest by -1.56% to settle at 14217.

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