Zinc rises with US economy in focus
03/02/2015 16:25
Zinc prices rose by 1.52 per cent on Tuesday at the domestic markets as market players looked ahead to the release of key US data later in the week for further indications on the strength of the economy and the future path of monetary policy. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.45 per kg, up by 1.52 per cent after opening at Rs. 131.80 against the previous closing price of Rs. 131.45. It touched the intra-day high of Rs. 133.70 till the trading. (At 4.15 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 2850 metric tonnes to 625225 metric tonnes as on January 30, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
03/02/2015 16:25
Zinc prices rose by 1.52 per cent on Tuesday at the domestic markets as market players looked ahead to the release of key US data later in the week for further indications on the strength of the economy and the future path of monetary policy. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.45 per kg, up by 1.52 per cent after opening at Rs. 131.80 against the previous closing price of Rs. 131.45. It touched the intra-day high of Rs. 133.70 till the trading. (At 4.15 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 2850 metric tonnes to 625225 metric tonnes as on January 30, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany
