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Zinc on MCX settled up 0.96% at 151.95 on short covering tracking LME prices settling up by 0.4% at 2274 after prices declined last week after news that Peruvian mine Antamina would boost production tempered expectations of a supply shortage.

 MCX, zinc futures for October 2016 contract is trading at Rs 151.70 per kg, down by 0.16%, after opening at Rs 151.95, against a previous close of Rs 151.95. It touched the intra-day low of Rs 151.60.
                  About 1 million tons will be lost this year through Glencore’s cuts and closures of depleted mines in Australia and Ireland. That’s about 7 %of global supply last year based on International Lead & Zinc Study Group data. Glencore closely monitored supply and demand before cutting 500,000 tons of output last year. China’s zinc concentrate supply remains in shortages in September. 

  Import business was depressed due to severe import losses and Chinese yuan’s devaluation. TCs of imported zinc concentrate are now $80-100 per dry metric tonne, with trading between $80-90 growing.