Upbeat China data lifts Zinc
24/12/2014 09:38
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.
A leading economic index for China climbed at a quicker pace in November, up 0.9 per cent from the previous month, when it rose 0.8 per cent, easing concerns over a slowdown in the world’s biggest metals consumer, supporting zinc.
Further, the fastest gain in US GDP in over a decade last quarter also lifted the demand prospects for the base metal.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.45 per 1 kg, up by 0.22 per cent after opening at Rs 137.20, against the previous closing price of Rs 137.15. It touched the intra-day high of Rs 137.8 till the closing.
24/12/2014 09:38
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.
A leading economic index for China climbed at a quicker pace in November, up 0.9 per cent from the previous month, when it rose 0.8 per cent, easing concerns over a slowdown in the world’s biggest metals consumer, supporting zinc.
Further, the fastest gain in US GDP in over a decade last quarter also lifted the demand prospects for the base metal.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.45 per 1 kg, up by 0.22 per cent after opening at Rs 137.20, against the previous closing price of Rs 137.15. It touched the intra-day high of Rs 137.8 till the closing.
