German factory rebound lifts Zinc
08/05/2015 09:30
Zinc futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as German factory orders snapped a two-month contraction in March, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc.
German factory orders rose by 0.9 per cent in March from the previous month, when they fell 0.9 per cent. On a year on year basis, orders climbed 1.9 per cent in March 2015.
At the MCX, Zinc futures for May 2015 contract closed at Rs 152.85 per 1 kg, up by 0.89 per cent after opening at Rs 150.95, against the previous closing price of Rs 151.5. It touched the intra-day high of Rs 153.65 till the closing.
08/05/2015 09:30
Zinc futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as German factory orders snapped a two-month contraction in March, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc.
German factory orders rose by 0.9 per cent in March from the previous month, when they fell 0.9 per cent. On a year on year basis, orders climbed 1.9 per cent in March 2015.
At the MCX, Zinc futures for May 2015 contract closed at Rs 152.85 per 1 kg, up by 0.89 per cent after opening at Rs 150.95, against the previous closing price of Rs 151.5. It touched the intra-day high of Rs 153.65 till the closing.
