Zinc falls by 0.04% on weak German data
16/09/2014 16:18
Zinc prices fell by 0.04 per cent on Tuesday at the domestic markets after German economic sentiment deteriorated to the lowest level since December 2012 in September, fuelling concerns over the euro zone's largest economy which reduced the demand for the metal. ZEW Centre for Economic Research said that its index of German economic sentiment fell by 1.7 points to 6.9 this month from August’s reading of 8.6. Zinc futures for September 2014 contract, at MCX, were trading at Rs 137.70 per kg, down by 0.04 per cent after opening at Rs. 137.95 against the previous closing price of Rs. 137.75. It touched the intra-day low of Rs. 136.90 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 500 metric tonnes to 754225 metric tonnes as on September 16, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
16/09/2014 16:18
Zinc prices fell by 0.04 per cent on Tuesday at the domestic markets after German economic sentiment deteriorated to the lowest level since December 2012 in September, fuelling concerns over the euro zone's largest economy which reduced the demand for the metal. ZEW Centre for Economic Research said that its index of German economic sentiment fell by 1.7 points to 6.9 this month from August’s reading of 8.6. Zinc futures for September 2014 contract, at MCX, were trading at Rs 137.70 per kg, down by 0.04 per cent after opening at Rs. 137.95 against the previous closing price of Rs. 137.75. It touched the intra-day low of Rs. 136.90 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 500 metric tonnes to 754225 metric tonnes as on September 16, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
