Zinc drops on reduced demand
05/02/2015 16:34
Zinc future declined at the domestic commodity market on Thursday after traders and speculators exited the positions in the base metal as they remain cautious fresh concerns over Greece rose after the reports that the ECB is unwilling to back government plans to renegotiate the terms of the country’s euro 140 billion bailout. However, the losses remained limited after the German factory orders rose in the month of December, 2014. Data showed that the German new orders rose 4.2 percent in the month of December, 2014 against a contraction of 2.4 percent in the month of November, 2014.
At MCX, Zinc futures for February 2015 contract, at MCX, were trading at Rs. 131.10 per kg, down by 1.02 per cent after opening at Rs. 132.20 against the previous closing price of Rs. 132.45. It touched the intra-day high of Rs. 132.40 till the trading. (At 4.31 PM today).
05/02/2015 16:34
Zinc future declined at the domestic commodity market on Thursday after traders and speculators exited the positions in the base metal as they remain cautious fresh concerns over Greece rose after the reports that the ECB is unwilling to back government plans to renegotiate the terms of the country’s euro 140 billion bailout. However, the losses remained limited after the German factory orders rose in the month of December, 2014. Data showed that the German new orders rose 4.2 percent in the month of December, 2014 against a contraction of 2.4 percent in the month of November, 2014.
At MCX, Zinc futures for February 2015 contract, at MCX, were trading at Rs. 131.10 per kg, down by 1.02 per cent after opening at Rs. 132.20 against the previous closing price of Rs. 132.45. It touched the intra-day high of Rs. 132.40 till the trading. (At 4.31 PM today).
