Zinc futures surge on upbeat Euro area data
31/03/2015 09:49
Zinc futures spiked in the domestic market on Monday after China’s central bank official said that policymakers have ample scope to bolster stimulus to help spur growth in the world’s second biggest economy, lifting the demand outlook for industrial metals.
Further, Euro area economic confidence rose to the highest level in three and a half years, signaling a pickup in the 19-member economy, supporting demand outlook for zinc. The gauge measuring Euro area economic confidence rose to 103.9 in March from 102.3 in February.
At the MCX, Zinc futures for March 2015 contract closed at Rs 131.20 per 1 kg, up by 0.77 per cent after opening at Rs 129.9, against the previous closing price of Rs 130.20. It touched the intra-day low of Rs 131.35 till the closing.
31/03/2015 09:49
Zinc futures spiked in the domestic market on Monday after China’s central bank official said that policymakers have ample scope to bolster stimulus to help spur growth in the world’s second biggest economy, lifting the demand outlook for industrial metals.
Further, Euro area economic confidence rose to the highest level in three and a half years, signaling a pickup in the 19-member economy, supporting demand outlook for zinc. The gauge measuring Euro area economic confidence rose to 103.9 in March from 102.3 in February.
At the MCX, Zinc futures for March 2015 contract closed at Rs 131.20 per 1 kg, up by 0.77 per cent after opening at Rs 129.9, against the previous closing price of Rs 130.20. It touched the intra-day low of Rs 131.35 till the closing.
