Weak Japan outlook weighs on Zinc
29/12/2014 09:48
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
Further, factory output in Japan fell in November, signaling a deepening recession in the world’s third biggest economy, darkening the demand outlook for industrial metals. Japan’s industrial production fell 0.6 per cent in November 2014 from the previous month, the Trade Ministry reported on Friday.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.15 per 1 kg, down by 0.93 per cent after opening at Rs 137.35, against the previous closing price of Rs 137.30. It touched the intra-day low of Rs 136.85 till the closing.
29/12/2014 09:48
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
Further, factory output in Japan fell in November, signaling a deepening recession in the world’s third biggest economy, darkening the demand outlook for industrial metals. Japan’s industrial production fell 0.6 per cent in November 2014 from the previous month, the Trade Ministry reported on Friday.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.15 per 1 kg, down by 0.93 per cent after opening at Rs 137.35, against the previous closing price of Rs 137.30. It touched the intra-day low of Rs 136.85 till the closing.
