Weak physcial demand weighs on Zinc
23/12/2014 09:36
Zinc futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
A bigger than expected improvement in a US economic activity index signaled underlying strength in the world’s biggest economy, lifting the demand outlook for base metals.
The Chicago Fed national activity index rose to 0.73 in November from 0.31 in October.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.15 per 1 kg, down by 0.44 per cent after opening at Rs 137.85, against the previous closing price of Rs 137.75. It touched the intra-day low of Rs 136.75 till the closing.
23/12/2014 09:36
Zinc futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
A bigger than expected improvement in a US economic activity index signaled underlying strength in the world’s biggest economy, lifting the demand outlook for base metals.
The Chicago Fed national activity index rose to 0.73 in November from 0.31 in October.
At the MCX, Zinc futures for December 2014 contract closed at Rs 137.15 per 1 kg, down by 0.44 per cent after opening at Rs 137.85, against the previous closing price of Rs 137.75. It touched the intra-day low of Rs 136.75 till the closing.
