ZOID RESEARCH 2-JUNE-2014 : ZINC

Last week we saw good drop coming into lead metal which for 3 month forward delivery closed near $2100 /MT, down by 2.00% from its previous week while in India the May future expiring on 30th May 2014 is down by 1.25%. Looking at lead and Zinc, as we understand the fundamentals are more or less in equilibrium though both look a bit on the weaker side of desk as of intraday view is concerned. However while studying the inventory performance and news related to industry, we feel that zinc may continue to outperform lead. We have been suggesting spread strategies for over past two weeks and likely that the same trend may continue. Intraday traders can also look down to take naked selling view especially on Lead commodity today.



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