Upbeat Chinese data lifts Zinc futures
12/12/2014 16:29
Zinc prices rose by 0.07 per cent on Friday at the domestic markets after National Bureau of Statistics of China said that Chinese Retail Sales rose to an annual rate of 11.7 per cent, from 11.5 per cent in the preceding month signaling improving sentiment in the region which raised the demand outlook for the metal. Zinc futures for December 2014 contract, at MCX, were trading at Rs 136.45 per kg, up by 0.07 per cent after opening at Rs. 136.50 against the previous closing price of Rs. 136.35. It touched the intra-day high of Rs. 136.60 till the trading. (At 4.15 PM today).
However, gains were curbed 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 3275 metric tonnes to 3275 metric tonnes as on December 12, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
12/12/2014 16:29
Zinc prices rose by 0.07 per cent on Friday at the domestic markets after National Bureau of Statistics of China said that Chinese Retail Sales rose to an annual rate of 11.7 per cent, from 11.5 per cent in the preceding month signaling improving sentiment in the region which raised the demand outlook for the metal. Zinc futures for December 2014 contract, at MCX, were trading at Rs 136.45 per kg, up by 0.07 per cent after opening at Rs. 136.50 against the previous closing price of Rs. 136.35. It touched the intra-day high of Rs. 136.60 till the trading. (At 4.15 PM today).
However, gains were curbed 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 3275 metric tonnes to 3275 metric tonnes as on December 12, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
