Zinc rises on positive China demand outlook
20/01/2015 16:07
Zinc prices rose by 1.41 per cent on Tuesday at the domestic markets after Industrial production in China rose more-than-expected last month signaling improving industrial activity in China, world’s largest consumer of metal which raised the demand outlook for the metal. National Bureau of Statistics of China said that Chinese Industrial Production rose to 7.9 per cent, from 7.2 per cent in the preceding month. Zinc futures for January 2015 contract, at MCX, were trading at Rs 129.80 per kg, up by 1.41 per cent after opening at Rs. 128.45 against the previous closing price of Rs. 128. It touched the intra-day high of Rs. 129.90 till the trading. (At 4.05 PM today).
However, gains were curbed due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2375 metric tonnes to 657525 metric tonnes as on January 20, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
20/01/2015 16:07
Zinc prices rose by 1.41 per cent on Tuesday at the domestic markets after Industrial production in China rose more-than-expected last month signaling improving industrial activity in China, world’s largest consumer of metal which raised the demand outlook for the metal. National Bureau of Statistics of China said that Chinese Industrial Production rose to 7.9 per cent, from 7.2 per cent in the preceding month. Zinc futures for January 2015 contract, at MCX, were trading at Rs 129.80 per kg, up by 1.41 per cent after opening at Rs. 128.45 against the previous closing price of Rs. 128. It touched the intra-day high of Rs. 129.90 till the trading. (At 4.05 PM today).
However, gains were curbed due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2375 metric tonnes to 657525 metric tonnes as on January 20, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
