Tepid US factory data hits Zinc
29/04/2015 09:39
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as a regional manufacturing gauge in the US shrank for a second month on the trot in April, signaling a worsening slowdown in the world’s biggest economy, clouding the demand outlook for zinc.
The Federal Reserve Bank of Richmond said that its gauge measuring manufacturing fell to -3 in April from -8 in March, with a reading below 0 signaling contraction.
At the MCX, Zinc futures for April 2015 contract closed at Rs 145.6 per 1 kg, down by 0.48 per cent after opening at Rs 145.7, against the previous closing price of Rs 146.30. It touched the intra-day low of Rs 145 till the closing.
29/04/2015 09:39
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as a regional manufacturing gauge in the US shrank for a second month on the trot in April, signaling a worsening slowdown in the world’s biggest economy, clouding the demand outlook for zinc.
The Federal Reserve Bank of Richmond said that its gauge measuring manufacturing fell to -3 in April from -8 in March, with a reading below 0 signaling contraction.
At the MCX, Zinc futures for April 2015 contract closed at Rs 145.6 per 1 kg, down by 0.48 per cent after opening at Rs 145.7, against the previous closing price of Rs 146.30. It touched the intra-day low of Rs 145 till the closing.
