Strong German data lifts Zinc
18/03/2015 09:50
Zinc futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after German investor confidence climbed in March, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc. The gauge measuring German investor confidence rose to 54.8 in March from 53 in February, ZEW said. A pickup in physical demand for zinc in the domestic spot market also boosted zinc futures. At the MCX, Zinc futures for March 2015 contract closed at Rs 126.70 per 1 kg, up by 0.48 per cent after opening at Rs 125.90, against the previous closing price of Rs 126.10. It touched the intra-day high of Rs 127.05 till the closing.
18/03/2015 09:50
Zinc futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after German investor confidence climbed in March, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc. The gauge measuring German investor confidence rose to 54.8 in March from 53 in February, ZEW said. A pickup in physical demand for zinc in the domestic spot market also boosted zinc futures. At the MCX, Zinc futures for March 2015 contract closed at Rs 126.70 per 1 kg, up by 0.48 per cent after opening at Rs 125.90, against the previous closing price of Rs 126.10. It touched the intra-day high of Rs 127.05 till the closing.
