Zinc futures dip on weak China, German data
25/06/2014 09:23
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as slower gain in China leading index signaled a cooling recovery in the world’s biggest metals consumer, clouding the demand outlook for the base metal. The China leading index rose 0.7 per cent in May 2014 over the previous month, when it climbed 1 per cent. German business confidence slumped in June, signaling a faltering recovery in Europe’s biggest economy, clouding the demand outlook for industrial metals. The gauge measuring German business sentiment fell to 109.7 this month from 110.4 in May. At the MCX, Zinc futures for June 2014 contract closed at Rs. 130.55 per 1 kg, down by 0.46 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 129.90.
25/06/2014 09:23
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as slower gain in China leading index signaled a cooling recovery in the world’s biggest metals consumer, clouding the demand outlook for the base metal. The China leading index rose 0.7 per cent in May 2014 over the previous month, when it climbed 1 per cent. German business confidence slumped in June, signaling a faltering recovery in Europe’s biggest economy, clouding the demand outlook for industrial metals. The gauge measuring German business sentiment fell to 109.7 this month from 110.4 in May. At the MCX, Zinc futures for June 2014 contract closed at Rs. 130.55 per 1 kg, down by 0.46 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 129.90.
