Improved Euro area outlook lifts Zinc
06/05/2015 09:42
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as an upward revision in growth outlook in the 19-member Euro area economy lifted the demand outlook for zinc.
The Euro area economy may expand by 1.5 per cent in 2015, up from a previous forecast of 1.3 per cent.
Moreover, speculation that China, the world’s biggest metals consumer, may bolster stimulus to help spur economic growth, also lifted the industrial metal.
At the MCX, Zinc futures for May 2015 contract closed at Rs 153.4 per 1 kg, up by 2.16 per cent after opening at Rs 149.95, against the previous closing price of Rs 150.15. It touched the intra-day high of Rs 153.85 till the closing.
06/05/2015 09:42
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as an upward revision in growth outlook in the 19-member Euro area economy lifted the demand outlook for zinc.
The Euro area economy may expand by 1.5 per cent in 2015, up from a previous forecast of 1.3 per cent.
Moreover, speculation that China, the world’s biggest metals consumer, may bolster stimulus to help spur economic growth, also lifted the industrial metal.
At the MCX, Zinc futures for May 2015 contract closed at Rs 153.4 per 1 kg, up by 2.16 per cent after opening at Rs 149.95, against the previous closing price of Rs 150.15. It touched the intra-day high of Rs 153.85 till the closing.
