Tepid physical demand weighs on Zinc
24/02/2015 09:29
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, an uptick in German business confidence for a fourth month on the trot in February, signaled a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals, trimming losses in zinc futures. The gauge measuring German business confidence climbed to 106.8 in February from 106.7 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 126.65 per 1 kg, down by 0.20 per cent after opening at Rs 127.75, against the previous closing price of Rs 126.90. It touched the intra-day low of Rs 126.35 till the closing.
24/02/2015 09:29
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, an uptick in German business confidence for a fourth month on the trot in February, signaled a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals, trimming losses in zinc futures. The gauge measuring German business confidence climbed to 106.8 in February from 106.7 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 126.65 per 1 kg, down by 0.20 per cent after opening at Rs 127.75, against the previous closing price of Rs 126.90. It touched the intra-day low of Rs 126.35 till the closing.
