Weak physical demand drags down Zinc
01/04/2015 09:31
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
Further, Euro area consumer prices dropped for a fourth month on the trot in March, signaling fears of a prolonged deflationary spiral in the 19-member economy, dimming the demand outlook for industrial metals. Consumer prices fell 0.1 per cent in March 2015 from the year ago month.
At the MCX, Zinc futures for March 2015 contract closed at Rs 129.90 per 1 kg, down by 0.99 per cent after opening at Rs 130.25, against the previous closing price of Rs 131.20. It touched the intra-day low of Rs 129.85 till the closing.
01/04/2015 09:31
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market.
Further, Euro area consumer prices dropped for a fourth month on the trot in March, signaling fears of a prolonged deflationary spiral in the 19-member economy, dimming the demand outlook for industrial metals. Consumer prices fell 0.1 per cent in March 2015 from the year ago month.
At the MCX, Zinc futures for March 2015 contract closed at Rs 129.90 per 1 kg, down by 0.99 per cent after opening at Rs 130.25, against the previous closing price of Rs 131.20. It touched the intra-day low of Rs 129.85 till the closing.
