Physical demand, China hopes lifts Zinc
10/12/2014 09:35
Zinc futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Further, a slowdown in China’s export growth and a dip in imports in November raised speculation of further policy easing measures in the world’s biggest metals consumer, lifting the demand outlook for zinc. Weak German data which showed a 0.5 per cent dip in exports in October and a 3.1 per cent slump in imports signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for the industrial metal, trimming gains in Zinc futures. At the MCX, Zinc futures for December 2014 contract closed at Rs. 138 per 1 kg, up by 0.58 per cent, after opening at Rs. 137.50, against the previous closing price of Rs. 137.20. It touched an intra-day high of Rs 138.20
10/12/2014 09:35
Zinc futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Further, a slowdown in China’s export growth and a dip in imports in November raised speculation of further policy easing measures in the world’s biggest metals consumer, lifting the demand outlook for zinc. Weak German data which showed a 0.5 per cent dip in exports in October and a 3.1 per cent slump in imports signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for the industrial metal, trimming gains in Zinc futures. At the MCX, Zinc futures for December 2014 contract closed at Rs. 138 per 1 kg, up by 0.58 per cent, after opening at Rs. 137.50, against the previous closing price of Rs. 137.20. It touched an intra-day high of Rs 138.20
