Weak China demand outlook drags down Zinc
19/11/2014 09:30
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid fears that a deepening China property slump may curb demand for the base metal, given that China is the world’s biggest metals consumer. China’s new home prices fell in 69 of the 70 cities tracked by a government survey, in October, government data showed. However, a rise in German economic sentiment signaled a revival in Europe’s biggest economy, supporting the demand outlook for zinc, trimming losses in the base metal. The index measuring German economic sentiment rose by 15.1 points to 11.5 in November 2014, ZEW said. At the MCX, Zinc futures for November 2014 contract closed at Rs. 138.65 per 1 kg, down by 0.40 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 139.20. It touched an intra-day low of Rs 138.15.
19/11/2014 09:30
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid fears that a deepening China property slump may curb demand for the base metal, given that China is the world’s biggest metals consumer. China’s new home prices fell in 69 of the 70 cities tracked by a government survey, in October, government data showed. However, a rise in German economic sentiment signaled a revival in Europe’s biggest economy, supporting the demand outlook for zinc, trimming losses in the base metal. The index measuring German economic sentiment rose by 15.1 points to 11.5 in November 2014, ZEW said. At the MCX, Zinc futures for November 2014 contract closed at Rs. 138.65 per 1 kg, down by 0.40 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 139.20. It touched an intra-day low of Rs 138.15.
