US factory weakness weighs on Zinc
27/03/2015 12:26
Zinc futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a regional manufacturing gauge in the US dived into contraction territory this month, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for industrial metals.
The Federal Reserve Bank of Kansas said that its regional manufacturing gauge fell to -2 in March from 5 in February with a reading below 0 signaling contraction.
At the MCX, Zinc futures for March 2015 contract is trading at Rs 129.65 per 1 kg, down by 0.95 per cent after opening at Rs 130.10, against the previous closing price of Rs 130.90. It touched the intra-day low of Rs 129.55. (At 12:12 PM).
27/03/2015 12:26
Zinc futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a regional manufacturing gauge in the US dived into contraction territory this month, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for industrial metals.
The Federal Reserve Bank of Kansas said that its regional manufacturing gauge fell to -2 in March from 5 in February with a reading below 0 signaling contraction.
At the MCX, Zinc futures for March 2015 contract is trading at Rs 129.65 per 1 kg, down by 0.95 per cent after opening at Rs 130.10, against the previous closing price of Rs 130.90. It touched the intra-day low of Rs 129.55. (At 12:12 PM).
