Improving China outlook lifts Zinc
10/04/2015 12:08
Zinc futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal in the domestic spot market.
Further, China’s inflation data came in above estimates, easing fears over deflation in the world’s biggest metals consumer, bolstering the demand outlook for zinc.
China’s consumer prices rose 1.4 per cent, year on year in March 2015, topping estimates of a 1.3 per cent annual gain, while producer prices fell 4.6 per cent from March 2014, decelerating from an annual 4.8 per cent drop in February 2015.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 136.35 per 1 kg, up by 0.52 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 136.45. (At 11:50 AM).
10/04/2015 12:08
Zinc futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal in the domestic spot market.
Further, China’s inflation data came in above estimates, easing fears over deflation in the world’s biggest metals consumer, bolstering the demand outlook for zinc.
China’s consumer prices rose 1.4 per cent, year on year in March 2015, topping estimates of a 1.3 per cent annual gain, while producer prices fell 4.6 per cent from March 2014, decelerating from an annual 4.8 per cent drop in February 2015.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 136.35 per 1 kg, up by 0.52 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 136.45. (At 11:50 AM).
