Slowing Euroarea manufacturing growth weigh on Zinc
05/05/2015 09:38
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal as Euro area manufacturing activity expanded at a weaker pace in April, a sign that the recovery in the 19-member economy may be cooling, darkening the demand outlook for zinc.
The gauge measuring Euro area manufacturing fell to 52 in April from 52.2 in March, with a reading above 50 signaling expansion, Markit Economics said.
At the MCX, Zinc futures for May 2015 contract closed at Rs 150.15 per 1 kg, down by 0.27 per cent after opening at Rs 150.5, against the previous closing price of Rs 150.55. It touched the intra-day low of Rs 149.75 till the closing.
05/05/2015 09:38
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal as Euro area manufacturing activity expanded at a weaker pace in April, a sign that the recovery in the 19-member economy may be cooling, darkening the demand outlook for zinc.
The gauge measuring Euro area manufacturing fell to 52 in April from 52.2 in March, with a reading above 50 signaling expansion, Markit Economics said.
At the MCX, Zinc futures for May 2015 contract closed at Rs 150.15 per 1 kg, down by 0.27 per cent after opening at Rs 150.5, against the previous closing price of Rs 150.55. It touched the intra-day low of Rs 149.75 till the closing.
