Zinc falls on low Japan data
09/09/2014 15:48
Zinc prices fell by 1.56 per cent on Tuesday at the domestic markets after household confidence in Japan rose less-than-expected last month, official data showed on Tuesday signaling weak sentiment in the region which reduced the demand for the metal. Cabinet Office said that Japanese Household Confidence rose to a seasonally adjusted annual rate of 41.2, from 41.5 in the preceding month. Zinc futures for September 2014 contract, at MCX, were trading at Rs 142.05 per kg, down by 1.56 per cent after opening at Rs. 144.05 against the previous closing price of Rs. 144.30. It touched the intra-day low of Rs. 141.80 till the trading. (At 3.41 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 950 metric tonnes to 735700 metric tonnes as on September 9, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
09/09/2014 15:48
Zinc prices fell by 1.56 per cent on Tuesday at the domestic markets after household confidence in Japan rose less-than-expected last month, official data showed on Tuesday signaling weak sentiment in the region which reduced the demand for the metal. Cabinet Office said that Japanese Household Confidence rose to a seasonally adjusted annual rate of 41.2, from 41.5 in the preceding month. Zinc futures for September 2014 contract, at MCX, were trading at Rs 142.05 per kg, down by 1.56 per cent after opening at Rs. 144.05 against the previous closing price of Rs. 144.30. It touched the intra-day low of Rs. 141.80 till the trading. (At 3.41 PM today).
However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 950 metric tonnes to 735700 metric tonnes as on September 9, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
