Zinc in reverse gear on China outlook
08/05/2015 11:58
Zinc futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a fall in Chinese exports in April signaled a worsening slowdown in the world’s second biggest economy, clouding the demand outlook for the base metal.
China’s overseas shipments fell by 6.2 per cent in April 2015 from the same month a year ago, compared to an annual 0.9 per cent rise expected by analysts.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 151.75 per 1 kg, down by 0.72 per cent after opening at Rs 152.15, against the previous closing price of Rs 152.85. It touched the intra-day low of Rs 151.55. (At 11:50 AM).
08/05/2015 11:58
Zinc futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a fall in Chinese exports in April signaled a worsening slowdown in the world’s second biggest economy, clouding the demand outlook for the base metal.
China’s overseas shipments fell by 6.2 per cent in April 2015 from the same month a year ago, compared to an annual 0.9 per cent rise expected by analysts.
At the MCX, Zinc futures for May 2015 contract is trading at Rs 151.75 per 1 kg, down by 0.72 per cent after opening at Rs 152.15, against the previous closing price of Rs 152.85. It touched the intra-day low of Rs 151.55. (At 11:50 AM).
