Zinc drops on weak demand outlook
02/01/2015 16:40
Zinc prices fell by 0.25 per cent on Friday at the domestic markets 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. Zinc futures for January 2015 contract, at MCX, were trading at Rs 137.40 per kg, down by 0.25 cent after opening at Rs. 137.85 against the previous closing price of Rs. 137.75. It touched the intra-day low of Rs. 137.25 till the trading. (At 3.45 PM today).
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
02/01/2015 16:40
Zinc prices fell by 0.25 per cent on Friday at the domestic markets 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. Zinc futures for January 2015 contract, at MCX, were trading at Rs 137.40 per kg, down by 0.25 cent after opening at Rs. 137.85 against the previous closing price of Rs. 137.75. It touched the intra-day low of Rs. 137.25 till the trading. (At 3.45 PM today).
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
