Zinc bulls rule the roost
08/08/2016 16:24
Zinc futures jumped during evening trade in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the spot market.
Traders overlooked a 4.4 per cent annual drop in China’s exports in July 2016 as sentiment remained upbeat following strong US jobs data with a 255K addition to July payrolls and the Bank of England’s fresh stimulus fire including a reduction in interest rates to a record low and a 70 billion pounds expansion in its asset purchase scheme.
At that MCX, zinc futures for August 2016 contract is trading at Rs 152.4 per kg, up by 0.53 per cent, after opening at Rs 152.20, against a previous close of Rs 151.60. It touched the intra-day high of Rs 152.55 (at 16:18 PM).
08/08/2016 16:24
Traders overlooked a 4.4 per cent annual drop in China’s exports in July 2016 as sentiment remained upbeat following strong US jobs data with a 255K addition to July payrolls and the Bank of England’s fresh stimulus fire including a reduction in interest rates to a record low and a 70 billion pounds expansion in its asset purchase scheme.
At that MCX, zinc futures for August 2016 contract is trading at Rs 152.4 per kg, up by 0.53 per cent, after opening at Rs 152.20, against a previous close of Rs 151.60. It touched the intra-day high of Rs 152.55 (at 16:18 PM).
