Upbeat US housing data lifts Zinc
30/04/2015 12:37
Zinc futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as a surge in contracts to buy previously owned homes in the US signaled a pickup in the housing market of the world’s biggest economy, lifting the demand outlook for zinc.
US pending home sales climbed 1.1 per cent in March from the previous month when they climbed a revised 3.6 per cent.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 147.70 per 1 kg, up by 0.27 per cent after opening at Rs 147.10, against the previous closing price of Rs 147.30. It touched the intra-day high of Rs 148.15. (At 12:15 PM).
30/04/2015 12:37
Zinc futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as a surge in contracts to buy previously owned homes in the US signaled a pickup in the housing market of the world’s biggest economy, lifting the demand outlook for zinc.
US pending home sales climbed 1.1 per cent in March from the previous month when they climbed a revised 3.6 per cent.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 147.70 per 1 kg, up by 0.27 per cent after opening at Rs 147.10, against the previous closing price of Rs 147.30. It touched the intra-day high of Rs 148.15. (At 12:15 PM).
