Slowing China growth takes toll on Zinc
15/01/2015 09:29
Zinc futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, the World Bank cut its economic growth forecast for China, the world’s biggest metals consumer, in 2015, to 7.1 per cent from a prior estimate of 7.2 per cent, clouding the demand outlook for zinc.
Euro area industrial output rose at a muted pace of 0.2 per cent in November 2014 from the previous month as the recovery in the 19-member economy remains fragile.
At the MCX, Zinc futures for January 2015 contract closed at Rs 126.5 per 1 kg, down by 1.94 per cent after opening at Rs 128.5, against the previous closing price of Rs 129. It touched the intra-day low of Rs 124.45 till the closing.
15/01/2015 09:29
Zinc futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, the World Bank cut its economic growth forecast for China, the world’s biggest metals consumer, in 2015, to 7.1 per cent from a prior estimate of 7.2 per cent, clouding the demand outlook for zinc.
Euro area industrial output rose at a muted pace of 0.2 per cent in November 2014 from the previous month as the recovery in the 19-member economy remains fragile.
At the MCX, Zinc futures for January 2015 contract closed at Rs 126.5 per 1 kg, down by 1.94 per cent after opening at Rs 128.5, against the previous closing price of Rs 129. It touched the intra-day low of Rs 124.45 till the closing.
