Zinc futures end higher on physical demand, supply concerns
27/06/2014 09:01
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, shrinking stockpiles of the base metal at the London Metal Exchange signaled tighter supplies of zinc. Inventories of zinc fell to the lowest level since December 2010, down for a fourth session on the trot.
At the MCX, Zinc futures for June 2014 contract closed at Rs. 131.50 per 1 kg, up by 0.54 per cent, after opening at Rs. 131.10, against the previous closing price of Rs. 130.80. It touched an intra-day high of Rs 131.60.
27/06/2014 09:01
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, shrinking stockpiles of the base metal at the London Metal Exchange signaled tighter supplies of zinc. Inventories of zinc fell to the lowest level since December 2010, down for a fourth session on the trot.
At the MCX, Zinc futures for June 2014 contract closed at Rs. 131.50 per 1 kg, up by 0.54 per cent, after opening at Rs. 131.10, against the previous closing price of Rs. 130.80. It touched an intra-day high of Rs 131.60.
