Easing China deflation risks lift Zinc
13/04/2015 09:39
Zinc futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as better than expected China consumer prices data eased concerns of disinflation in the world’s biggest metals consumer, lifting the demand outlook for zinc.
China’s consumer price inflation stabilized at 1.4 per cent in March 2015, beating estimates of 1.3 per cent while factory -gate prices fell 4.6 per cent, year on year, decelerating from an annual drop of 4.8 per cent in February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.45 per 1 kg, up by 1.33 per cent after opening at Rs 135.80, against the previous closing price of Rs 135.65. It touched the intra-day high of Rs 137.85 till the closing.
13/04/2015 09:39
Zinc futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as better than expected China consumer prices data eased concerns of disinflation in the world’s biggest metals consumer, lifting the demand outlook for zinc.
China’s consumer price inflation stabilized at 1.4 per cent in March 2015, beating estimates of 1.3 per cent while factory -gate prices fell 4.6 per cent, year on year, decelerating from an annual drop of 4.8 per cent in February 2015.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.45 per 1 kg, up by 1.33 per cent after opening at Rs 135.80, against the previous closing price of Rs 135.65. It touched the intra-day high of Rs 137.85 till the closing.
