Zinc gains on strong US data
06/02/2015 16:24
Zinc prices rose by 0.64 per cent on Friday at the domestic markets as an uptick in US jobless claims last week signaled a cooling job recovery in the world’s biggest economy which raised the demand outlook for the metal. The number of Americans who filed for unemployment benefit claims rose by 11,000 to 278,000 in the week ended January 31, 2015.
Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.35 per kg, up by 0.64 per cent after opening at Rs. 132.55 against the previous closing price of Rs. 132.50. It touched the intra-day high of Rs. 133.50 till the trading. (At 4.10 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 3425 metric tonnes to 616075 metric tonnes as on February 6, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
06/02/2015 16:24
Zinc prices rose by 0.64 per cent on Friday at the domestic markets as an uptick in US jobless claims last week signaled a cooling job recovery in the world’s biggest economy which raised the demand outlook for the metal. The number of Americans who filed for unemployment benefit claims rose by 11,000 to 278,000 in the week ended January 31, 2015.
Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.35 per kg, up by 0.64 per cent after opening at Rs. 132.55 against the previous closing price of Rs. 132.50. It touched the intra-day high of Rs. 133.50 till the trading. (At 4.10 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 3425 metric tonnes to 616075 metric tonnes as on February 6, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
