Weak China demand outlook weighs on Zinc
20/01/2015 09:33
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.
Home prices in China, the world’s biggest metals consumer, fell in December, signaling a deepening property market slump, darkening the demand outlook for the base metal. China’s home prices fell 4.3 per cent, year on year in December 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 128 per 1 kg, down by 0.93 per cent after opening at Rs 128.95, against the previous closing price of Rs 129.2. It touched the intra-day low of Rs 127.75 till the closing.
20/01/2015 09:33
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.
Home prices in China, the world’s biggest metals consumer, fell in December, signaling a deepening property market slump, darkening the demand outlook for the base metal. China’s home prices fell 4.3 per cent, year on year in December 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 128 per 1 kg, down by 0.93 per cent after opening at Rs 128.95, against the previous closing price of Rs 129.2. It touched the intra-day low of Rs 127.75 till the closing.
