Zinc surges on China demand
13/04/2015 16:09
Zinc prices rose by 0.76 per cent on Monday at the domestic markets on hopes that China, the world’s biggest metals consumer, may accelerate stimulus to help spur economic growth also supported zinc, as the country’s imports and exports slid in March, prompting further policy easing bets. Zinc futures for April 2015 contract, at MCX, were trading at Rs 138.50 per kg, up by 0.76 per cent after opening at Rs. 137.25 against the previous closing price of Rs. 137.45. It touched the intra-day high of Rs. 138.75 till the trading. (At 4.00 PM today).
Sentiment improved further 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 3100 metric tonnes to 506350 metric tonnes as on April 13, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
13/04/2015 16:09
Zinc prices rose by 0.76 per cent on Monday at the domestic markets on hopes that China, the world’s biggest metals consumer, may accelerate stimulus to help spur economic growth also supported zinc, as the country’s imports and exports slid in March, prompting further policy easing bets. Zinc futures for April 2015 contract, at MCX, were trading at Rs 138.50 per kg, up by 0.76 per cent after opening at Rs. 137.25 against the previous closing price of Rs. 137.45. It touched the intra-day high of Rs. 138.75 till the trading. (At 4.00 PM today).
Sentiment improved further 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 3100 metric tonnes to 506350 metric tonnes as on April 13, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
