Weak physical demand weighs on Zinc
13/01/2015 09:51
Zinc futures ended lower 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.
Further, a record long streak of decline in Chinese producer prices signaled the risk of deflation in the world’s biggest metals consumer, darkening the demand outlook for zinc. Chinese factory-gate prices fell for the 34th month on the trot in December.
The first decline in German industrial output in three months in November signaled a faltering recovery in Europe’s biggest economy, clouding the metal’s demand prospects.
At the MCX, Zinc futures for January 2015 contract closed at Rs 132.35 per 1 kg, down by 1.05 per cent after opening at Rs 133.65, against the previous closing price of Rs 133.75. It touched the intra-day low of Rs 131.80 till the closing.
13/01/2015 09:51
Zinc futures ended lower 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.
Further, a record long streak of decline in Chinese producer prices signaled the risk of deflation in the world’s biggest metals consumer, darkening the demand outlook for zinc. Chinese factory-gate prices fell for the 34th month on the trot in December.
The first decline in German industrial output in three months in November signaled a faltering recovery in Europe’s biggest economy, clouding the metal’s demand prospects.
At the MCX, Zinc futures for January 2015 contract closed at Rs 132.35 per 1 kg, down by 1.05 per cent after opening at Rs 133.65, against the previous closing price of Rs 133.75. It touched the intra-day low of Rs 131.80 till the closing.
