Robust China services growth lifts Zinc
06/05/2015 12:12
Zinc futures were trading higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after services activity in China, the world’s biggest metals consumer, expanded at the fastest pace in four months in April, signaling an economic rebound, and lifting the demand outlook for the base metal.
The China services gauge rose to 52.9 in April from 52.3 in March, with a reading above 50 signaling expansion, HSBC said.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 154.15 per 1 kg, up by 0.49 per cent after opening at Rs 153.25, against the previous closing price of Rs 153.40. It touched the intra-day high of Rs 154.35. (At 11:44 AM).
06/05/2015 12:12
Zinc futures were trading higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after services activity in China, the world’s biggest metals consumer, expanded at the fastest pace in four months in April, signaling an economic rebound, and lifting the demand outlook for the base metal.
The China services gauge rose to 52.9 in April from 52.3 in March, with a reading above 50 signaling expansion, HSBC said.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 154.15 per 1 kg, up by 0.49 per cent after opening at Rs 153.25, against the previous closing price of Rs 153.40. It touched the intra-day high of Rs 154.35. (At 11:44 AM).
