Zinc ends flat amid tepid physical demand
26/03/2015 09:45
Zinc futures ended flat in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, a fifth straight rise in German business confidence in March signaled a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals, supporting zinc. The gauge measuring German business confidence rose to 107.9 in March from 106.8 in February. At the MCX, Zinc futures for March 2015 contract closed at Rs 129.80 per 1 kg, up by 0.04 per cent after opening at Rs 129.30, against the previous closing price of Rs 129.75. It touched the intra-day high of Rs 129.90 till the closing.
26/03/2015 09:45
Zinc futures ended flat in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, a fifth straight rise in German business confidence in March signaled a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals, supporting zinc. The gauge measuring German business confidence rose to 107.9 in March from 106.8 in February. At the MCX, Zinc futures for March 2015 contract closed at Rs 129.80 per 1 kg, up by 0.04 per cent after opening at Rs 129.30, against the previous closing price of Rs 129.75. It touched the intra-day high of Rs 129.90 till the closing.
