Mcx Aluminium Market Update : Aluminum is also facing a major glut as in 2015 aluminum consumption is pegged at 57.5 mt instead of 56.4 mt earlier. The increase is due to an upward revision by Alcoa, the world third largest aluminum producer , in China’s aluminum consumption. Hence higher production means higher prices but china factors pop up again . Although it is consuming more , its smelters are producing more of the metal. So majorly it will be flat.
Mcx Zinc Market Update : Zinc prices are shooting higher because it is now facing a deficit market. The major reason is MMG, the Hong Kong listed unit of china’s biggest state owned metals trader, plans to close the century mine in Australia by mid-year and has failed to find the replacement. So more demand for the metal is there but its supply is being reduced leading the price to rise