Improved Eurozone, China outlook lifts Zinc
11/11/2014 09:23
Zinc futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as China’s trade data beat estimates while an improvement in investor sentiment in the Euro area signaled an easing risk of a recession in the 18-member economy, lifting the demand prospects for the base metal. China’s exports registered a year on year 11.6 per cent gain in October 2014, against an expected 10.6 per cent increase. Chinese consumer inflation stood steady at 1.6 per cent in October 2014, unchanged from the previous month, giving policymakers enough room to step up easing, if required. The gauge measuring Euro area investor confidence rose to -11.9 in November from -13.7 in October, Sentix said. At the MCX, Zinc futures for November 2014 contract closed at Rs. 138.65 per 1 kg, up by 0.80 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 137.55. It touched an intra-day high of Rs 140.20.
11/11/2014 09:23
Zinc futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as China’s trade data beat estimates while an improvement in investor sentiment in the Euro area signaled an easing risk of a recession in the 18-member economy, lifting the demand prospects for the base metal. China’s exports registered a year on year 11.6 per cent gain in October 2014, against an expected 10.6 per cent increase. Chinese consumer inflation stood steady at 1.6 per cent in October 2014, unchanged from the previous month, giving policymakers enough room to step up easing, if required. The gauge measuring Euro area investor confidence rose to -11.9 in November from -13.7 in October, Sentix said. At the MCX, Zinc futures for November 2014 contract closed at Rs. 138.65 per 1 kg, up by 0.80 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 137.55. It touched an intra-day high of Rs 140.20.
