Zinc drops on global cues, low spot demand
28/04/2015 16:16
Zinc prices eased by 0.41 per cent to Rs 145.50 per kg in futures trade today as speculators trimmed positions amid a weak trend in base metals overseas and subdued demand at domestic markets. Zinc futures for April 2015 contract, at MCX, were trading at Rs 145.50 per kg, down by 0.41 per cent after opening at Rs. 145.60 against the previous closing price of Rs. 146.10. It touched the intra-day low of Rs. 145.30 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2925 metric tonnes to 783550 metric tonnes as on April 28, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
28/04/2015 16:16
Zinc prices eased by 0.41 per cent to Rs 145.50 per kg in futures trade today as speculators trimmed positions amid a weak trend in base metals overseas and subdued demand at domestic markets. Zinc futures for April 2015 contract, at MCX, were trading at Rs 145.50 per kg, down by 0.41 per cent after opening at Rs. 145.60 against the previous closing price of Rs. 146.10. It touched the intra-day low of Rs. 145.30 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2925 metric tonnes to 783550 metric tonnes as on April 28, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
