Weak German demand outlook weighs on Zinc
08/04/2015 12:46
Zinc futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid concerns that a weakening Chinese economy, the world’s biggest metals consumer may erode demand for zinc.
Further, a drop in German factory orders in February signaled a cooling recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals.
German factory orders fell by 0.9 per cent in February from January when they declined 2.6 per cent.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 133.50 per 1 kg, down by 0.34 per cent after opening at Rs 133.5, against the previous closing price of Rs 133.95. It touched the intra-day low of Rs 133.30. (At 12:23 PM).
08/04/2015 12:46
Zinc futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid concerns that a weakening Chinese economy, the world’s biggest metals consumer may erode demand for zinc.
Further, a drop in German factory orders in February signaled a cooling recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals.
German factory orders fell by 0.9 per cent in February from January when they declined 2.6 per cent.
At the MCX, Zinc futures for April 2015 contract is trading at Rs 133.50 per 1 kg, down by 0.34 per cent after opening at Rs 133.5, against the previous closing price of Rs 133.95. It touched the intra-day low of Rs 133.30. (At 12:23 PM).
