Upbeat physical demand lifts Zinc
06/04/2015 09:46
Zinc futures soared in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc from the domestic spot market.
Upbeat Euro area factory data which signaled a pickup in the 19-member economy also lifted the demand outlook for zinc. The Eurozone manufacturing PMI rose to the highest level in ten months at 52.2 in March from 51 in February, with a reading above 50 signaling expansion.
At the MCX, Zinc futures for April 2015 contract closed at Rs 132.45 per 1 kg, up by 1.38 per cent after opening at Rs 130.9, against the previous closing price of Rs 130.65. It touched the intra-day high of Rs 132.8 till the closing.
06/04/2015 09:46
Zinc futures soared in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc from the domestic spot market.
Upbeat Euro area factory data which signaled a pickup in the 19-member economy also lifted the demand outlook for zinc. The Eurozone manufacturing PMI rose to the highest level in ten months at 52.2 in March from 51 in February, with a reading above 50 signaling expansion.
At the MCX, Zinc futures for April 2015 contract closed at Rs 132.45 per 1 kg, up by 1.38 per cent after opening at Rs 130.9, against the previous closing price of Rs 130.65. It touched the intra-day high of Rs 132.8 till the closing.
