Zinc bears rule the roost
19/08/2016 14:08
Zinc futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
However, the losses in the metal were restricted by signs of a pickup in US economic growth as US jobless claims fell 4,000 to 262,000 last week while a leading index rose 0.4 per cent in July from June, when it climbed 0.3 per cent.
At that MCX, zinc futures for August 2016 contract is trading at Rs 152.65 per kg, down by 0.59 per cent, after opening at Rs 153.2, against a previous close of Rs 153.55. It touched the intra-day low of Rs 152.3. (At 14:05 PM).
19/08/2016 14:08
However, the losses in the metal were restricted by signs of a pickup in US economic growth as US jobless claims fell 4,000 to 262,000 last week while a leading index rose 0.4 per cent in July from June, when it climbed 0.3 per cent.
At that MCX, zinc futures for August 2016 contract is trading at Rs 152.65 per kg, down by 0.59 per cent, after opening at Rs 153.2, against a previous close of Rs 153.55. It touched the intra-day low of Rs 152.3. (At 14:05 PM).
