Upbeat physical demand lifts Zinc
05/12/2014 09:32
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. The European Central Bank (ECB) cut its growth forecasts for the 18-member Euro area economy to 0.8 per cent in 2014 and 1 per cent next year, from 1.1 per cent and 1.6 per cent, respectively predicted earlier, clouding the demand outlook for industrial metals, trimming gains in the base metal. At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.30 per 1 kg, up by 0.88 per cent, after opening at Rs. 137.75, against the previous closing price of Rs. 137.10. It touched an intra-day high of Rs 139.10
05/12/2014 09:32
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. The European Central Bank (ECB) cut its growth forecasts for the 18-member Euro area economy to 0.8 per cent in 2014 and 1 per cent next year, from 1.1 per cent and 1.6 per cent, respectively predicted earlier, clouding the demand outlook for industrial metals, trimming gains in the base metal. At the MCX, Zinc futures for December 2014 contract closed at Rs. 138.30 per 1 kg, up by 0.88 per cent, after opening at Rs. 137.75, against the previous closing price of Rs. 137.10. It touched an intra-day high of Rs 139.10
