Zinc gains on upbeat German data
26/03/2015 16:26
Zinc prices rose by 1 per cent on Thursday at the domestic markets after Germany’s Gfk consumer climate rose more-than-expected last month, data showed signaling improving sentiment in the region which raised the demand outlook for the metal. In a report, research group Gfk said that its index of Germany’s consumer climate rose to 10.0, from 9.7 in the preceding month. Zinc futures for March 2015 contract, at MCX, were trading at Rs 132.40 per kg, down by 1 per cent after opening at Rs. 130 against the previous closing price of Rs. 129.80. It touched the intra-day low of Rs. 129.95 till the trading. (At 4.08 PM today).
Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 50 metric tonnes to 520125 metric tonnes as on March 26, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
26/03/2015 16:26
Zinc prices rose by 1 per cent on Thursday at the domestic markets after Germany’s Gfk consumer climate rose more-than-expected last month, data showed signaling improving sentiment in the region which raised the demand outlook for the metal. In a report, research group Gfk said that its index of Germany’s consumer climate rose to 10.0, from 9.7 in the preceding month. Zinc futures for March 2015 contract, at MCX, were trading at Rs 132.40 per kg, down by 1 per cent after opening at Rs. 130 against the previous closing price of Rs. 129.80. It touched the intra-day low of Rs. 129.95 till the trading. (At 4.08 PM today).
Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 50 metric tonnes to 520125 metric tonnes as on March 26, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
