Weak physical demand weighs on Zinc; German data supports
25/11/2014 09:31
Zinc futures ended flat in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Business confidence in Germany rose for the first time in seven months in November, signaling a revival in Europe’s biggest economy, supporting the demand outlook for industrial metals. The gauge measuring German business confidence rose to 104.7 this month from 103.2 in October.
At the MCX, Zinc futures for November 2014 contract closed at Rs. 141.15 per 1 kg, up by 0.04 per cent, after opening at Rs. 140.85, against the previous closing price of Rs. 141.10. It touched an intra-day high of Rs 142.65.
25/11/2014 09:31
Zinc futures ended flat in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Business confidence in Germany rose for the first time in seven months in November, signaling a revival in Europe’s biggest economy, supporting the demand outlook for industrial metals. The gauge measuring German business confidence rose to 104.7 this month from 103.2 in October.
At the MCX, Zinc futures for November 2014 contract closed at Rs. 141.15 per 1 kg, up by 0.04 per cent, after opening at Rs. 140.85, against the previous closing price of Rs. 141.10. It touched an intra-day high of Rs 142.65.
