Weak physical demand hits Zinc
18/02/2015 09:41
Zinc futures closed lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Investors cast aside upbeat German data which showed a rise in investor confidence to a one-year high in February in Europe’s biggest economy, lifting the demand outlook for industrial metals. The gauge measuring German investor sentiment rose to 53 in February from 48.4 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 130.45 per 1 kg, down by 2.36 per cent after opening at Rs 133.4, against the previous closing price of Rs 133.6. It touched the intra-day low of Rs 130.35 till the closing.
18/02/2015 09:41
Zinc futures closed lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Investors cast aside upbeat German data which showed a rise in investor confidence to a one-year high in February in Europe’s biggest economy, lifting the demand outlook for industrial metals. The gauge measuring German investor sentiment rose to 53 in February from 48.4 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 130.45 per 1 kg, down by 2.36 per cent after opening at Rs 133.4, against the previous closing price of Rs 133.6. It touched the intra-day low of Rs 130.35 till the closing.
