Upbeat China demand outlook lifts Zinc
07/04/2015 09:40
Zinc futures climbed in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after a faster expansion in services activity in China, the world’s biggest metals consumer, signaled an easing slowdown in the country’s economy, lifting the demand outlook for zinc.
The HSBC China Services PMI rose to 52.3 in March from 52 in February, with a reading above 50 signaling expansion. A combined gauge measuring Chinese services and manufacturing remained at a five-month high of 51.8 in March.
At the MCX, Zinc futures for April 2015 contract closed at Rs 132.60 per 1 kg, up by 0.11 per cent after opening at Rs 132.50, against the previous closing price of Rs 132.45. It touched the intra-day high of Rs 134.50 till the closing.
07/04/2015 09:40
Zinc futures climbed in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after a faster expansion in services activity in China, the world’s biggest metals consumer, signaled an easing slowdown in the country’s economy, lifting the demand outlook for zinc.
The HSBC China Services PMI rose to 52.3 in March from 52 in February, with a reading above 50 signaling expansion. A combined gauge measuring Chinese services and manufacturing remained at a five-month high of 51.8 in March.
At the MCX, Zinc futures for April 2015 contract closed at Rs 132.60 per 1 kg, up by 0.11 per cent after opening at Rs 132.50, against the previous closing price of Rs 132.45. It touched the intra-day high of Rs 134.50 till the closing.
