Increasing inventories drags down Zinc futures
10/12/2014 16:39
Zinc prices fell by 0.69 per cent on Wednesday at the domestic markets due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 3550 metric tonnes to 681850 metric tonnes as on December 10, 2014. Zinc futures for December 2014 contract, at MCX, were trading at Rs 137.05 per kg, down by 0.69 per cent after opening at Rs. 137.50 against the previous closing price of Rs. 138. It touched the intra-day low of Rs. 136.80 till the trading. (At 4.15 PM today). Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
10/12/2014 16:39
Zinc prices fell by 0.69 per cent on Wednesday at the domestic markets due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 3550 metric tonnes to 681850 metric tonnes as on December 10, 2014. Zinc futures for December 2014 contract, at MCX, were trading at Rs 137.05 per kg, down by 0.69 per cent after opening at Rs. 137.50 against the previous closing price of Rs. 138. It touched the intra-day low of Rs. 136.80 till the trading. (At 4.15 PM today). Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
