China stimulus bets lift Zinc
28/04/2015 09:06
Zinc futures sky-rocketed in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as a drop in Chinese industrial profits signaled a worsening economic slowdown in the world’s biggest metals consumer, fanning speculation that policymakers may step up measures to revive growth, lifting the demand outlook for the base metal.
China’s industrial profits fell 0.4 per cent in March 2015 from the same month a year ago, following an annual 4.2 per cent decline in January-February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 146.10 per 1 kg, up by 2.10 per cent after opening at Rs 143.3, against the previous closing price of Rs 143.10. It touched the intra-day high of Rs 146.65 till the closing.
28/04/2015 09:06
Zinc futures sky-rocketed in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as a drop in Chinese industrial profits signaled a worsening economic slowdown in the world’s biggest metals consumer, fanning speculation that policymakers may step up measures to revive growth, lifting the demand outlook for the base metal.
China’s industrial profits fell 0.4 per cent in March 2015 from the same month a year ago, following an annual 4.2 per cent decline in January-February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 146.10 per 1 kg, up by 2.10 per cent after opening at Rs 143.3, against the previous closing price of Rs 143.10. It touched the intra-day high of Rs 146.65 till the closing.
