Zinc drops on weak China demand outlook
01/12/2014 15:20
Zinc prices fell by 0.94 per cent on Monday at the domestic markets after China’s manufacturing slowed sharply last month, signaling a worsening economic slowdown in the world’s biggest metals consumer, dimming the demand outlook for the base metal. China’s manufacturing gauge fell to an eight-month low of 50.3 in November from 50.8 in October. Zinc futures for December 2014 contract, at MCX, were trading at Rs 136.55 per kg, down by 0.94 per cent after opening at Rs. 137.30 against the previous closing price of Rs. 137.85. It touched the intra-day low of Rs. 136.10 till the trading. (At 3.23 PM today).
The London Metal Exchange (LME) zinc stocks remained unchanged at 673000 metric tonnes as on December 1, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
01/12/2014 15:20
Zinc prices fell by 0.94 per cent on Monday at the domestic markets after China’s manufacturing slowed sharply last month, signaling a worsening economic slowdown in the world’s biggest metals consumer, dimming the demand outlook for the base metal. China’s manufacturing gauge fell to an eight-month low of 50.3 in November from 50.8 in October. Zinc futures for December 2014 contract, at MCX, were trading at Rs 136.55 per kg, down by 0.94 per cent after opening at Rs. 137.30 against the previous closing price of Rs. 137.85. It touched the intra-day low of Rs. 136.10 till the trading. (At 3.23 PM today).
The London Metal Exchange (LME) zinc stocks remained unchanged at 673000 metric tonnes as on December 1, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
