Upbeat physical demand, China hopes lift Zinc
12/02/2015 09:17
Zinc futures closed higher in the domestic market on Wednesday 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, speculation of further policy easing in China, the world’s biggest metals consumer, boosted hopes of a pickup in demand for zinc. Consumer prices in China climbed at the weakest pace in more than five years in January 2015 while factory-gate prices fell for the 35th straight month, boosting stimulus bets.
At the MCX, Zinc futures for February 2015 contract closed at Rs 132.10 per 1 kg, up by 0.19 per cent after opening at Rs 131.9, against the previous closing price of Rs 131.85. It touched the intra-day high of Rs 133.15 till the closing.
12/02/2015 09:17
Zinc futures closed higher in the domestic market on Wednesday 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, speculation of further policy easing in China, the world’s biggest metals consumer, boosted hopes of a pickup in demand for zinc. Consumer prices in China climbed at the weakest pace in more than five years in January 2015 while factory-gate prices fell for the 35th straight month, boosting stimulus bets.
At the MCX, Zinc futures for February 2015 contract closed at Rs 132.10 per 1 kg, up by 0.19 per cent after opening at Rs 131.9, against the previous closing price of Rs 131.85. It touched the intra-day high of Rs 133.15 till the closing.
