Upbeat US factory data lifts Zinc
17/04/2015 09:42
Zinc futures climbed in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as robust US regional manufacturing data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial commodities.
The gauge measuring manufacturing in the Philadelphia region climbed to 7.5 in April from 5 in March, topping expectations of a rise to 6, and above the mark of zero that separates expansion from contraction.
Meanwhile, China’s FDI growth in Q1 2015 weakened to 11.3 per cent, year on year from an annual 17 per cent in January-February 2015 amid a slowdown in the world’s second biggest economy, trimming gains in zinc.
At the MCX, Zinc futures for April 2015 contract closed at Rs 138.9 per 1 kg, up by 0.98 per cent after opening at Rs 137.55, against the previous closing price of Rs 137.55. It touched the intra-day high of Rs 139.4 till the closing.
17/04/2015 09:42
Zinc futures climbed in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as robust US regional manufacturing data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial commodities.
The gauge measuring manufacturing in the Philadelphia region climbed to 7.5 in April from 5 in March, topping expectations of a rise to 6, and above the mark of zero that separates expansion from contraction.
Meanwhile, China’s FDI growth in Q1 2015 weakened to 11.3 per cent, year on year from an annual 17 per cent in January-February 2015 amid a slowdown in the world’s second biggest economy, trimming gains in zinc.
At the MCX, Zinc futures for April 2015 contract closed at Rs 138.9 per 1 kg, up by 0.98 per cent after opening at Rs 137.55, against the previous closing price of Rs 137.55. It touched the intra-day high of Rs 139.4 till the closing.
