Zinc futures tad lower amid weak US factory data
02/07/2014 11:39
Zinc futures were trading with slim losses in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after manufacturing activity in the US grew at a weaker than expected pace last month, signaling a slowdown in the world’s biggest economy, clouding the demand outlook for industrial metals. The gauge measuring US manufacturing stood at 55.3 in June, compared to 55.4 in May, with a reading above 50 signaling expansion, ISM said. At the MCX, Zinc futures for July 2014 contract is trading at Rs. 130.95 per 1 kg, down by 0.08 per cent, after opening at Rs. 130.95, against the previous closing price of Rs. 131.05. It touched an intra-day low of Rs. 130.75. (At 11:28 AM).
02/07/2014 11:39
Zinc futures were trading with slim losses in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after manufacturing activity in the US grew at a weaker than expected pace last month, signaling a slowdown in the world’s biggest economy, clouding the demand outlook for industrial metals. The gauge measuring US manufacturing stood at 55.3 in June, compared to 55.4 in May, with a reading above 50 signaling expansion, ISM said. At the MCX, Zinc futures for July 2014 contract is trading at Rs. 130.95 per 1 kg, down by 0.08 per cent, after opening at Rs. 130.95, against the previous closing price of Rs. 131.05. It touched an intra-day low of Rs. 130.75. (At 11:28 AM).
