Zinc futures edge up 1.06% on overseas cues
07/05/2015 16:08
Zinc prices gained 1.06 per cent to Rs 153.10 per kg in futures market today as speculators enlarged positions, tracking a firm global trend. Besides, rising demand at domestic spot markets fuelled the uptrend. Zinc futures for May 2015 contract, at MCX, were trading at Rs 153.10 per kg, up by 1.06 per cent after opening at Rs. 150.95 against the previous closing price of Rs. 151.50. It touched the intra-day high of Rs. 153.30 till the trading. (At 3.56 PM today).
Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2525 metric tonnes to 462075 metric tonnes as on May 7, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
07/05/2015 16:08
Zinc prices gained 1.06 per cent to Rs 153.10 per kg in futures market today as speculators enlarged positions, tracking a firm global trend. Besides, rising demand at domestic spot markets fuelled the uptrend. Zinc futures for May 2015 contract, at MCX, were trading at Rs 153.10 per kg, up by 1.06 per cent after opening at Rs. 150.95 against the previous closing price of Rs. 151.50. It touched the intra-day high of Rs. 153.30 till the trading. (At 3.56 PM today).
Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2525 metric tonnes to 462075 metric tonnes as on May 7, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
