Zinc rebounds on physical demand
26/03/2015 11:28
Zinc futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for zinc in the domestic spot market. Further, all eyes are on key US economic data to be released today including weekly jobless claims data which may show a drop in applications for seeking unemployment benefits and March private sector PMI that may signal strength in the world’s biggest economy, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for March 2015 contract is trading at Rs 130.55 per 1 kg, up by 0.58 per cent after opening at Rs 130, against the previous closing price of Rs 129.80. It touched the intra-day high of Rs 130.60 till the closing. (At 11:13 AM).
26/03/2015 11:28
Zinc futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for zinc in the domestic spot market. Further, all eyes are on key US economic data to be released today including weekly jobless claims data which may show a drop in applications for seeking unemployment benefits and March private sector PMI that may signal strength in the world’s biggest economy, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for March 2015 contract is trading at Rs 130.55 per 1 kg, up by 0.58 per cent after opening at Rs 130, against the previous closing price of Rs 129.80. It touched the intra-day high of Rs 130.60 till the closing. (At 11:13 AM).
