Zinc slumps on subdued demand
29/01/2015 16:10
Zinc prices fell by 0.96 per cent on Thursday at the domestic markets as speculators trimmed positions after demand eased in spot markets. Further, weak trend in other base metals in global markets influenced the sentiment. Zinc futures for January 2015 contract, at MCX, were trading at Rs 128.30 per kg, down by 0.96 per cent after opening at Rs. 129.50 against the previous closing price of Rs. 129.55. It touched the intra-day low of Rs. 127.85 till the trading. (At 4.05 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3550 metric tonnes to 633175 metric tonnes as on January 29, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
29/01/2015 16:10
Zinc prices fell by 0.96 per cent on Thursday at the domestic markets as speculators trimmed positions after demand eased in spot markets. Further, weak trend in other base metals in global markets influenced the sentiment. Zinc futures for January 2015 contract, at MCX, were trading at Rs 128.30 per kg, down by 0.96 per cent after opening at Rs. 129.50 against the previous closing price of Rs. 129.55. It touched the intra-day low of Rs. 127.85 till the trading. (At 4.05 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3550 metric tonnes to 633175 metric tonnes as on January 29, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
