China easing hopes lift Zinc
16/01/2015 09:39
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as weaker than expected Chinese credit data raised hopes that policymakers may undertake further stimulus measures to help spur growth in the world’s second biggest economy, lifting the demand outlook for zinc. Chinese lenders issued 697.3 billion yuan worth of new loans in December, below November’s 852.7 billion yuan, government data showed. However, an uncertain global economic outlook curbed gains in the industrial metal after the IMF warned over weak global growth despite an improving US economy and falling oil prices. At the MCX, Zinc futures for January 2015 contract closed at Rs 126.8 per 1 kg, up by 0.24 per cent after opening at Rs 127.4, against the previous closing price of Rs 126.5. It touched the intra-day high of Rs 127.65 till the closing
16/01/2015 09:39
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as weaker than expected Chinese credit data raised hopes that policymakers may undertake further stimulus measures to help spur growth in the world’s second biggest economy, lifting the demand outlook for zinc. Chinese lenders issued 697.3 billion yuan worth of new loans in December, below November’s 852.7 billion yuan, government data showed. However, an uncertain global economic outlook curbed gains in the industrial metal after the IMF warned over weak global growth despite an improving US economy and falling oil prices. At the MCX, Zinc futures for January 2015 contract closed at Rs 126.8 per 1 kg, up by 0.24 per cent after opening at Rs 127.4, against the previous closing price of Rs 126.5. It touched the intra-day high of Rs 127.65 till the closing
