Slowing China growth hits Zinc
07/05/2015 13:14
Zinc futures fell in the domestic market on Thursday, as investors and speculators exited positions in the industrial metal, as China’s private sector output expanded at the weakest pace in three months, in April, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for zinc.
A combined gauge of manufacturing and services in China fell to 51.3 in April from 51.8 in March, with a reading above 50 signaling expansion, Markit Economics reported on Wednesday.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 150.25 per 1 kg, down by 0.83 per cent after opening at Rs 150.95, against the previous closing price of Rs 151.50. It touched the intra-day low of Rs 150.20. (At 12:24 PM).
07/05/2015 13:14
Zinc futures fell in the domestic market on Thursday, as investors and speculators exited positions in the industrial metal, as China’s private sector output expanded at the weakest pace in three months, in April, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for zinc.
A combined gauge of manufacturing and services in China fell to 51.3 in April from 51.8 in March, with a reading above 50 signaling expansion, Markit Economics reported on Wednesday.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 150.25 per 1 kg, down by 0.83 per cent after opening at Rs 150.95, against the previous closing price of Rs 151.50. It touched the intra-day low of Rs 150.20. (At 12:24 PM).
