Tepid US economic data hits Zinc
21/04/2015 09:31
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal after a gauge of national economic activity in the US signaled a worsening slowdown in the world’s biggest economy, clouding the demand outlook for zinc.
The Chicago Fed National Activity Index fell to -0.42 in March from February’s -0.18, with a reading below 0 signaling contraction.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.95 per 1 kg, down by 0.43 per cent after opening at Rs 138.8, against the previous closing price of Rs 138.55. It touched the intra-day low of Rs 137.5 till the closing.
21/04/2015 09:31
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal after a gauge of national economic activity in the US signaled a worsening slowdown in the world’s biggest economy, clouding the demand outlook for zinc.
The Chicago Fed National Activity Index fell to -0.42 in March from February’s -0.18, with a reading below 0 signaling contraction.
At the MCX, Zinc futures for April 2015 contract closed at Rs 137.95 per 1 kg, down by 0.43 per cent after opening at Rs 138.8, against the previous closing price of Rs 138.55. It touched the intra-day low of Rs 137.5 till the closing.
