Zinc futures up on supply concerns
20/06/2014 10:45
Zinc futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as shrinking stockpiles at the London Metal Exchange (LME) signaled supply concerns over the base metal. Stockpiles at LME warehouses tumbled to the lowest level since late 2010 at 674,375 tonnes on Wednesday. Global zinc deficit rose to 107,000 tonnes in January to April from 17,000 tonnes in January-March, data from Lisbon-based International Lead and Zinc Study Group showed. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 130.40 per 1 kg, up by 0.77 per cent, after opening at Rs. 129.70, against the previous closing price of Rs. 129.40. It touched an intra-day low of Rs 130.65. (At 10:34 AM).
20/06/2014 10:45
Zinc futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as shrinking stockpiles at the London Metal Exchange (LME) signaled supply concerns over the base metal. Stockpiles at LME warehouses tumbled to the lowest level since late 2010 at 674,375 tonnes on Wednesday. Global zinc deficit rose to 107,000 tonnes in January to April from 17,000 tonnes in January-March, data from Lisbon-based International Lead and Zinc Study Group showed. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 130.40 per 1 kg, up by 0.77 per cent, after opening at Rs. 129.70, against the previous closing price of Rs. 129.40. It touched an intra-day low of Rs 130.65. (At 10:34 AM).
