Zinc dips on weak global demand outlook
13/10/2014 16:35
Zinc prices fell by 0.14 per cent on Monday at the domestic markets as upbeat China trade data failed to ease concerns over the global economic outlook. China’s copper arrivals rose 14.7 per cent in September to 390,000 metric tons, compared to 340,000 in August. Zinc futures for October 2014 contract, at MCX, were trading at Rs 142.30 per kg, down by 0.14 per cent after opening at Rs. 142.50 against the previous closing price of Rs. 142.50. It touched the intra-day low of Rs. 141.65 till the trading. (At 4.20 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 2650 metric tonnes to 729025 metric tonnes as on October 13, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
13/10/2014 16:35
Zinc prices fell by 0.14 per cent on Monday at the domestic markets as upbeat China trade data failed to ease concerns over the global economic outlook. China’s copper arrivals rose 14.7 per cent in September to 390,000 metric tons, compared to 340,000 in August. Zinc futures for October 2014 contract, at MCX, were trading at Rs 142.30 per kg, down by 0.14 per cent after opening at Rs. 142.50 against the previous closing price of Rs. 142.50. It touched the intra-day low of Rs. 141.65 till the trading. (At 4.20 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 2650 metric tonnes to 729025 metric tonnes as on October 13, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
