Weak China outlook weighs on Zinc
30/03/2015 09:49
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal after industrial profits in China, the world’s biggest metals consumer, fell the most since 2012 in the first two months of the year, signaling a worsening economic slowdown, darkening the demand outlook for zinc.
China’s industrial profits fell 4.2 per cent, year on year in January-February 2015.
At the MCX, Zinc futures for March 2015 contract closed at Rs 130.20 per 1 kg, down by 0.53 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 till the closing.
30/03/2015 09:49
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal after industrial profits in China, the world’s biggest metals consumer, fell the most since 2012 in the first two months of the year, signaling a worsening economic slowdown, darkening the demand outlook for zinc.
China’s industrial profits fell 4.2 per cent, year on year in January-February 2015.
At the MCX, Zinc futures for March 2015 contract closed at Rs 130.20 per 1 kg, down by 0.53 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 till the closing.
