Weak China, Japan demand outlook drags down Zinc
18/12/2014 09:21
Zinc futures ended lower in the domestic market on Wednesday as the first contraction in Chinese manufacturing in seven months in December signaled bearish demand prospects for the industrial metal, given that China is the world’s top zinc consumer. Japan’s exports rose less than estimated in November, a sign that the world’s third biggest economy is struggling to overcome its fourth recession in six years, clouding the demand outlook for industrial metals. Overseas shipments climbed 4.9 per cent, year on year in November 2014, missing the 7 per cent gain estimated by analysts. At the MCX, Zinc futures for December 2014 contract closed at Rs. 135.45 per 1 kg, down by 0.81 per cent, after opening at Rs. 136.75, against the previous closing price of Rs. 136.55. It touched an intra-day low of Rs 134.15
18/12/2014 09:21
Zinc futures ended lower in the domestic market on Wednesday as the first contraction in Chinese manufacturing in seven months in December signaled bearish demand prospects for the industrial metal, given that China is the world’s top zinc consumer. Japan’s exports rose less than estimated in November, a sign that the world’s third biggest economy is struggling to overcome its fourth recession in six years, clouding the demand outlook for industrial metals. Overseas shipments climbed 4.9 per cent, year on year in November 2014, missing the 7 per cent gain estimated by analysts. At the MCX, Zinc futures for December 2014 contract closed at Rs. 135.45 per 1 kg, down by 0.81 per cent, after opening at Rs. 136.75, against the previous closing price of Rs. 136.55. It touched an intra-day low of Rs 134.15
