Weak China data weighs on Zinc futures
24/06/2014 11:23
Zinc futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal after a China leading index climbed at a slower pace in May, signaling a faltering recovery in the world’s second biggest economy, dimming the demand outlook for zinc. The China leading index rose 0.7 per cent in May 2014 over the previous month, when it climbed 1 per cent. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 130.15 per 1 kg, down by 0.76 per cent, after opening at Rs. 130.75, against the previous closing price of Rs. 131.15. It touched an intra-day low of Rs. 130.05. (At 11:11 AM).
24/06/2014 11:23
Zinc futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal after a China leading index climbed at a slower pace in May, signaling a faltering recovery in the world’s second biggest economy, dimming the demand outlook for zinc. The China leading index rose 0.7 per cent in May 2014 over the previous month, when it climbed 1 per cent. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 130.15 per 1 kg, down by 0.76 per cent, after opening at Rs. 130.75, against the previous closing price of Rs. 131.15. It touched an intra-day low of Rs. 130.05. (At 11:11 AM).
