Downbeat China data drags down Zinc futures
18/12/2014 16:08
Zinc prices fell by 1.22 per cent on Thursday at the domestic markets after new home prices in China, the world’s biggest metals consumer, fell last month, signaling a bearish demand outlook for zinc. New home prices in China in November declined in 67 out of the 70 cities covered by a government survey. Zinc futures for December 2014 contract, at MCX, were trading at Rs 133.80 per kg, down by 1.22 per cent after opening at Rs. 135.25 against the previous closing price of Rs. 135.45. It touched the intra-day low of Rs. 133 till the trading. (At 3.45 PM today). However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3575 metric tonnes to 681700 metric tonnes as on December 18, 2014. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
18/12/2014 16:08
Zinc prices fell by 1.22 per cent on Thursday at the domestic markets after new home prices in China, the world’s biggest metals consumer, fell last month, signaling a bearish demand outlook for zinc. New home prices in China in November declined in 67 out of the 70 cities covered by a government survey. Zinc futures for December 2014 contract, at MCX, were trading at Rs 133.80 per kg, down by 1.22 per cent after opening at Rs. 135.25 against the previous closing price of Rs. 135.45. It touched the intra-day low of Rs. 133 till the trading. (At 3.45 PM today). However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3575 metric tonnes to 681700 metric tonnes as on December 18, 2014. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
