Performer Of The Week

Zinc

zinc

Zinc it seems is the most favored counter among the Base metal space .After closing very weak the preceding week it rebounded very smartly to hit another multi year high at 268
4.5. before retreating below the 2600 mark. However gains for the week was 2.9 % amidst some small correction in other industrious metals.The market breath of the metal has been very positive and any down side correction attracts strong buyers. Fundamental scenario’s are very positive with tightness persisting at procuring ore.TC’s at Chinese smelters remain low.The 2010 high of the metal has been 2736 and it remains to be seen whether excellent fundamentals and very positive sentiments in the counter can help scale new heights. The way ahead for the metal certainly looks very promising.

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