Zinc futures dip on weak physical demand, Eurozone data
30/06/2014 09:04
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Economic confidence in the Euro area fell in June, signaling a faltering recovery in the 18-member economy, clouding the demand outlook for industrial metals. The gauge measuring Euro area economic confidence fell to 102 this month from 102.6 in May, EU said. At the MCX, Zinc futures for June 2014 contract closed at Rs. 131.40 per 1 kg, down by 0.08 per cent, after opening at Rs. 131.35, against the previous closing price of Rs. 131.50. It touched an intra-day low of Rs 130.75.
30/06/2014 09:04
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Economic confidence in the Euro area fell in June, signaling a faltering recovery in the 18-member economy, clouding the demand outlook for industrial metals. The gauge measuring Euro area economic confidence fell to 102 this month from 102.6 in May, EU said. At the MCX, Zinc futures for June 2014 contract closed at Rs. 131.40 per 1 kg, down by 0.08 per cent, after opening at Rs. 131.35, against the previous closing price of Rs. 131.50. It touched an intra-day low of Rs 130.75.
