Zinc futures slide 1.02% on US factory woes 26/09/2016 16:19

Zinc futures slide 1.02% on US factory woes
26/09/2016 16:19

Zinc futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators trimmed their positions in the industrial metal amid a fall in demand from consuming industries at the domestic spot markets.
Further, a slowdown in US manufacturing raised concerns over the health of the world’s biggest economy, dimming the demand outlook for metals. A gauge measuring US manufacturing fell to 51.4 in September compared to 52 in August, with a reading above 50 signaling expansion. At the MCX, zinc futures for September 2016 contract is trading at Rs 149.90 per kg, down by 1.02 per cent, after opening at Rs 151.05, against a previous close of Rs 151.45. It touched the intra-day low of Rs 149.45 (at 16:16 hours).