Physical demand, upbeat US demand outlook lifts
Zinc
02/12/2014 09:40
Zinc futures ended higher in the domestic market on Monday 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, strong US factory data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. The US ISM Manufacturing PMI expanded at the second highest level since April 2011 at 58.7 in November, with a reading above 50 signaling expansion.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.95 per 1 kg, up by 0.80 per cent, after opening at Rs. 137.30, against the previous closing price of Rs. 137.85. It touched an intra-day high of Rs 139.15.
02/12/2014 09:40
Zinc futures ended higher in the domestic market on Monday 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, strong US factory data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. The US ISM Manufacturing PMI expanded at the second highest level since April 2011 at 58.7 in November, with a reading above 50 signaling expansion.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.95 per 1 kg, up by 0.80 per cent, after opening at Rs. 137.30, against the previous closing price of Rs. 137.85. It touched an intra-day high of Rs 139.15.
