Strong physical demand lifts Zinc
02/02/2015 09:31
Zinc futures closed higher in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, the lowest jobless rate in the Euro area since August 2012 in December 2014 signaled an improving demand outlook in the 19-member economy. Euro area unemployment rate fell to 11.4 per cent in December 2014 from 11.5 per cent in November 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 130.40 per 1 kg, up by 0.97 per cent after opening at Rs 128.9, against the previous closing price of Rs 129.15. It touched the intra-day high of Rs 130.55 till the closing.
02/02/2015 09:31
Zinc futures closed higher in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, the lowest jobless rate in the Euro area since August 2012 in December 2014 signaled an improving demand outlook in the 19-member economy. Euro area unemployment rate fell to 11.4 per cent in December 2014 from 11.5 per cent in November 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 130.40 per 1 kg, up by 0.97 per cent after opening at Rs 128.9, against the previous closing price of Rs 129.15. It touched the intra-day high of Rs 130.55 till the closing.
