Zinc futures tad lower on weak physical demand
01/07/2014 12:01
Zinc futures fell marginally in the domestic market on Tuesday as investors and speculators were cautious over booking fresh positions in the base metal amid weak physical demand for zinc in the domestic spot market.
However, a pickup in manufacturing activity in China, the world’s biggest metals consumer, lifted the demand outlook for zinc, trimming losses in the base metal. Manufacturing activity in China expanded at the fastest pace this year in June, signaling a pickup in the world’s biggest economy.
At the MCX, Zinc futures for July 2014 contract is trading at Rs. 133.25 per 1 kg, down by 0.11 per cent, after opening at Rs. 133.20, against the previous closing price of Rs. 133.40. It touched an intra-day low of Rs. 133. (At 11:49 AM).
01/07/2014 12:01
Zinc futures fell marginally in the domestic market on Tuesday as investors and speculators were cautious over booking fresh positions in the base metal amid weak physical demand for zinc in the domestic spot market.
However, a pickup in manufacturing activity in China, the world’s biggest metals consumer, lifted the demand outlook for zinc, trimming losses in the base metal. Manufacturing activity in China expanded at the fastest pace this year in June, signaling a pickup in the world’s biggest economy.
At the MCX, Zinc futures for July 2014 contract is trading at Rs. 133.25 per 1 kg, down by 0.11 per cent, after opening at Rs. 133.20, against the previous closing price of Rs. 133.40. It touched an intra-day low of Rs. 133. (At 11:49 AM).
