Upbeat US housing data lifts Zinc
19/11/2014 11:41
Zinc futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal as robust US housing data which showed a rebound in US homebuilder sentiment this month, signaled a pickup in the housing market in the world’s biggest economy, supporting the demand outlook for the base metal. The gauge measuring US homebuilder sentiment rose to 58 in November from 54 in October, NAHB said. However, a deepening economic slowdown in China, the world’s biggest metals consumer curbed gains in copper. At the MCX, copper futures for November 2014 contract is trading at Rs. 410.65 per 1 kg, up by 0.34 per cent, after opening at Rs. 411, against the previous closing price of Rs. 409.25. It touched an intra-day high of Rs. 411.65. (At 11:26 AM
19/11/2014 11:41
Zinc futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal as robust US housing data which showed a rebound in US homebuilder sentiment this month, signaled a pickup in the housing market in the world’s biggest economy, supporting the demand outlook for the base metal. The gauge measuring US homebuilder sentiment rose to 58 in November from 54 in October, NAHB said. However, a deepening economic slowdown in China, the world’s biggest metals consumer curbed gains in copper. At the MCX, copper futures for November 2014 contract is trading at Rs. 410.65 per 1 kg, up by 0.34 per cent, after opening at Rs. 411, against the previous closing price of Rs. 409.25. It touched an intra-day high of Rs. 411.65. (At 11:26 AM
