Weak UK construction data dampens zinc demand
05/01/2015 17:00
The prices of zinc declined in the domestic commodity market on Monday after UK’s construction output marked the least increase in 17 months. The construction output stood at 57.6 in the month of December, down from 59.4 in November.
However, the losses remained limited after the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks declined by 3900 metric tonnes to 686925 metric tonnes as on January 5, 2015.
At the MCX, zinc futures for January 2015 contract were trading at Rs.138.35 per 1 kg, down by 0.72 per cent, after opening at Rs. 139.10 against the previous closing price of Rs. 139.35. It touched the intra-day low of Rs. 138.15 till the trading. (At 4.59 PM today).
05/01/2015 17:00
The prices of zinc declined in the domestic commodity market on Monday after UK’s construction output marked the least increase in 17 months. The construction output stood at 57.6 in the month of December, down from 59.4 in November.
However, the losses remained limited after the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks declined by 3900 metric tonnes to 686925 metric tonnes as on January 5, 2015.
At the MCX, zinc futures for January 2015 contract were trading at Rs.138.35 per 1 kg, down by 0.72 per cent, after opening at Rs. 139.10 against the previous closing price of Rs. 139.35. It touched the intra-day low of Rs. 138.15 till the trading. (At 4.59 PM today).
