Downbeat physical demand weighs on Zinc
20/04/2015 09:28
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid subdued physical demand for zinc in the domestic spot market.
However, speculation, that China, the world’s biggest metals consumer, may boost stimulus to help stave off a hard landing for the world’s second biggest economy following the weakest pace of growth since the global financial crisis since 2008 in Q1 2015 trimmed losses in zinc.
At the MCX, Zinc futures for April 2015 contract closed at Rs 138.55 per 1 kg, down by 0.25 per cent after opening at Rs 138.7, against the previous closing price of Rs 138.9. It touched the intra-day low of Rs 138.15 till the closing.
20/04/2015 09:28
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid subdued physical demand for zinc in the domestic spot market.
However, speculation, that China, the world’s biggest metals consumer, may boost stimulus to help stave off a hard landing for the world’s second biggest economy following the weakest pace of growth since the global financial crisis since 2008 in Q1 2015 trimmed losses in zinc.
At the MCX, Zinc futures for April 2015 contract closed at Rs 138.55 per 1 kg, down by 0.25 per cent after opening at Rs 138.7, against the previous closing price of Rs 138.9. It touched the intra-day low of Rs 138.15 till the closing.
