China stimulus hopes lift Zinc
16/04/2015 09:47
Zinc futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after the economy in China, the world’s biggest metals consumer, grew at the slowest pace since 2009 in Q1 while industrial output, retail sales and fixed-asset investment growth weakened, signaling a deepening slowdown in the world’s second biggest economy.
China’s GDP grew 7 per cent in Q1 2015, year on year, compared to an annual 7.3 per cent expansion in Q4 2014.Industrial production rose at the slowest pace since November 2008, up by 5.6 per cent in March 2015 from the same month a year ago, compared to an annual 6.8 per cent rise in January-February 2015.
Retail sales climbed 10.2 per cent in March 2015, year on year, compared to an annual 10.7 per cent rise in January-February 2015.
Further, urban fixed-asset investment in China rose 13.5 per cent in Q1 2015, year on year, compared to an annual 13.9 per cent rise in January-February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.55 per 1 kg, up by 0.55 per cent after opening at Rs 136.65, against the previous closing price of Rs 136.8. It touched the intra-day high of Rs 137.85 till the closing.
16/04/2015 09:47
Zinc futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after the economy in China, the world’s biggest metals consumer, grew at the slowest pace since 2009 in Q1 while industrial output, retail sales and fixed-asset investment growth weakened, signaling a deepening slowdown in the world’s second biggest economy.
China’s GDP grew 7 per cent in Q1 2015, year on year, compared to an annual 7.3 per cent expansion in Q4 2014.Industrial production rose at the slowest pace since November 2008, up by 5.6 per cent in March 2015 from the same month a year ago, compared to an annual 6.8 per cent rise in January-February 2015.
Retail sales climbed 10.2 per cent in March 2015, year on year, compared to an annual 10.7 per cent rise in January-February 2015.
Further, urban fixed-asset investment in China rose 13.5 per cent in Q1 2015, year on year, compared to an annual 13.9 per cent rise in January-February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.55 per 1 kg, up by 0.55 per cent after opening at Rs 136.65, against the previous closing price of Rs 136.8. It touched the intra-day high of Rs 137.85 till the closing.
