Zinc futures up on robust China data
23/06/2014 13:08
Zinc futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for the base metal.
Manufacturing activity in China, the world’s biggest metals consumer, rebounded into expansion territory this month, lifting the demand outlook for industrial metals.
The gauge measuring manufacturing in China rose to 50.8 in June from 49.4 in the previous month, with a reading above 50 signaling expansion, HSBC said.
At the MCX, Zinc futures for June 2014 contract is trading at Rs. 131 per 1 kg, up by 0.34 per cent, after opening at Rs. 130.75, against the previous closing price of Rs. 130.55. It touched an intra-day high of Rs. 131.10. (At 10:53 AM).
23/06/2014 13:08
Zinc futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for the base metal.
Manufacturing activity in China, the world’s biggest metals consumer, rebounded into expansion territory this month, lifting the demand outlook for industrial metals.
The gauge measuring manufacturing in China rose to 50.8 in June from 49.4 in the previous month, with a reading above 50 signaling expansion, HSBC said.
At the MCX, Zinc futures for June 2014 contract is trading at Rs. 131 per 1 kg, up by 0.34 per cent, after opening at Rs. 130.75, against the previous closing price of Rs. 130.55. It touched an intra-day high of Rs. 131.10. (At 10:53 AM).
