China slowdown fears hit Zinc
30/12/2014 09:38
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
China’s industrial profits fell at the fastest rate in more than two years in November 2014, signaling a deepening slowdown in the world’s second biggest economy, dimming the demand outlook for industrial metals. Profits of Chinese industrial firms fell by 4.2 per cent in November 2014 from the same month a year ago, the National Bureau of Statistics (NBS) said on Saturday.
At the MCX, Zinc futures for December 2014 contract closed at Rs 136 per 1 kg, down by 0.84 per cent after opening at Rs 137.5, against the previous closing price of Rs 137.15. It touched the intra-day low of Rs 135.8 till the closing.
30/12/2014 09:38
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
China’s industrial profits fell at the fastest rate in more than two years in November 2014, signaling a deepening slowdown in the world’s second biggest economy, dimming the demand outlook for industrial metals. Profits of Chinese industrial firms fell by 4.2 per cent in November 2014 from the same month a year ago, the National Bureau of Statistics (NBS) said on Saturday.
At the MCX, Zinc futures for December 2014 contract closed at Rs 136 per 1 kg, down by 0.84 per cent after opening at Rs 137.5, against the previous closing price of Rs 137.15. It touched the intra-day low of Rs 135.8 till the closing.
