Strong physical demand, ECB hopes lift Zinc
22/01/2015 09:22
Zinc futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, speculation that the European Central Bank (ECB) may unveil a program for buying government bonds worth probably 550 billion-600 billion euro in a bid to stem the threat of deflation and revive the 19-member Euro area economy lifted the demand outlook for industrial metals.
At the MCX, Zinc futures for January 2015 contract closed at Rs 131.45 per 1 kg, up by 0.92 per cent after opening at Rs 129.85, against the previous closing price of Rs 130.25. It touched the intra-day high of Rs 131.60 till the closing.
22/01/2015 09:22
Zinc futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, speculation that the European Central Bank (ECB) may unveil a program for buying government bonds worth probably 550 billion-600 billion euro in a bid to stem the threat of deflation and revive the 19-member Euro area economy lifted the demand outlook for industrial metals.
At the MCX, Zinc futures for January 2015 contract closed at Rs 131.45 per 1 kg, up by 0.92 per cent after opening at Rs 129.85, against the previous closing price of Rs 130.25. It touched the intra-day high of Rs 131.60 till the closing.
