Zinc gains on high demand prospects
13/02/2015 16:17
Zinc prices rose by 0.40 per cent on Friday at the domestic markets after the Euro zone economic growth accelerated unexpectedly in the final quarter of 2014 as the bloc's largest member, Germany, expanded at more than twice the expected rate which raised the demand outlook for the metal. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.80 per kg, up by 0.56 per cent after opening at Rs. 132.90 against the previous closing price of Rs. 133.05. It touched the intra-day high of Rs. 134.05 till the trading. (At 4.00 PM today). Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3500 metric tonnes to 595075 metric tonnes as on February 13, 2015. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
13/02/2015 16:17
Zinc prices rose by 0.40 per cent on Friday at the domestic markets after the Euro zone economic growth accelerated unexpectedly in the final quarter of 2014 as the bloc's largest member, Germany, expanded at more than twice the expected rate which raised the demand outlook for the metal. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.80 per kg, up by 0.56 per cent after opening at Rs. 132.90 against the previous closing price of Rs. 133.05. It touched the intra-day high of Rs. 134.05 till the trading. (At 4.00 PM today). Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3500 metric tonnes to 595075 metric tonnes as on February 13, 2015. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
