Upbeat Euro area outlook lifts Zinc
08/04/2015 09:32
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after private sector output in the Euro area surged to the highest level in 11 months in March 2015, signaling a pickup in the 19-member economy, lifting the demand outlook for zinc. A combined gauge measuring Euro area manufacturing and services climbed to 54 in March from 53.3 in February, with a reading above 50 signaling expansion, Markit Economics said. At the MCX, Zinc futures for April 2015 contract closed at Rs 133.95 per 1 kg, up by 1.02 per cent after opening at Rs 132.65, against the previous closing price of Rs 132.60. It touched the intra-day high of Rs 134.45 till the closing.
08/04/2015 09:32
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after private sector output in the Euro area surged to the highest level in 11 months in March 2015, signaling a pickup in the 19-member economy, lifting the demand outlook for zinc. A combined gauge measuring Euro area manufacturing and services climbed to 54 in March from 53.3 in February, with a reading above 50 signaling expansion, Markit Economics said. At the MCX, Zinc futures for April 2015 contract closed at Rs 133.95 per 1 kg, up by 1.02 per cent after opening at Rs 132.65, against the previous closing price of Rs 132.60. It touched the intra-day high of Rs 134.45 till the closing.
