Weak China factory data weighs on industrial metal
02/01/2015 09:10
Zinc futures ended on a flat note in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after a report showed that manufacturing activity in China, the world’s biggest metals consumer, fell into contraction for the first time in seven months in December, darkening the demand outlook for zinc. The HSBC China factory gauge fell to 49.6 in December from the no- change mark of 50. The China official factory PMI fell to 50.1 in December from 50.3 in November, the lowest reading in 18 months, government data showed. At the MCX, Zinc futures for January 2015 contract closed at Rs 137.75 per 1 kg, up by 0.07 per cent after opening at Rs 138, against the previous closing price of Rs 137.65. It touched the intra-day high of Rs 138.10 till the closing
02/01/2015 09:10
Zinc futures ended on a flat note in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after a report showed that manufacturing activity in China, the world’s biggest metals consumer, fell into contraction for the first time in seven months in December, darkening the demand outlook for zinc. The HSBC China factory gauge fell to 49.6 in December from the no- change mark of 50. The China official factory PMI fell to 50.1 in December from 50.3 in November, the lowest reading in 18 months, government data showed. At the MCX, Zinc futures for January 2015 contract closed at Rs 137.75 per 1 kg, up by 0.07 per cent after opening at Rs 138, against the previous closing price of Rs 137.65. It touched the intra-day high of Rs 138.10 till the closing
