Improving demand outlook lifts Zinc
31/10/2014 09:21
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as faster than expected US economic growth in Q3 bolstered the demand outlook for zinc.
The US economy grew by an annualized 3.5 per cent in the July-September 2014 quarter, beating estimates of a 3 per cent gain.
Further, a surprise rise in Euro area economic confidence this month eased fears of a recession in the 18-member economy, bolstering demand outlook for the base metal. The gauge measuring economic confidence in the region rose to100.7 in October from 99.9 in the previous month.
At the MCX, Zinc futures for October 2014 contract closed at Rs. 141.60 per 1 kg, up by 0.28 per cent, after opening at Rs. 140.40, against the previous closing price of Rs. 141.20. It touched an intra-day high of Rs 141.90.
31/10/2014 09:21
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as faster than expected US economic growth in Q3 bolstered the demand outlook for zinc.
The US economy grew by an annualized 3.5 per cent in the July-September 2014 quarter, beating estimates of a 3 per cent gain.
Further, a surprise rise in Euro area economic confidence this month eased fears of a recession in the 18-member economy, bolstering demand outlook for the base metal. The gauge measuring economic confidence in the region rose to100.7 in October from 99.9 in the previous month.
At the MCX, Zinc futures for October 2014 contract closed at Rs. 141.60 per 1 kg, up by 0.28 per cent, after opening at Rs. 140.40, against the previous closing price of Rs. 141.20. It touched an intra-day high of Rs 141.90.
