Zinc: Still room on the upside

October 22, 2019 / www.metalbulletinresearch.com / Article Link

Overhead resistance emerges
LME zinc prices have remained supported over the past week by the 100-day moving average. However, for the time being at least, prices remains capped ahead of $2,500 per tonne, particularly after the latest Chinese economic data stoked concerns about weaker demand.

GDP grew 6% in Q3, slowing from 6.2% in Q2, and below the 6.1% forecast. That said industrial production rose to 5.8% in September, above the 5% forecast and 4.4% increase in August. Retail sales accelerated to 7.8% from 7.5% in August, but fixed-asset investment growth over January-September slowed slightly to 5.4% from 5.5% in...

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