Physical demand, upbeat US demand outlook lifts
Zinc
30/10/2014 09:22
Zinc futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, hopes that a pickup in the world’s biggest economy, the US, may bolster demand for industrial metals lifted zinc futures as the US Federal Reserve signaled improvement in the US labour market while consumer confidence surged to the highest level in seven years in the month of October 2014. The Conference Board’s US consumer sentiment index rose to 94.5 in October from 89 in September.
At the MCX, Zinc futures for October 2014 contract closed at Rs. 141.20 per 1 kg, up by 2.17 per cent, after opening at Rs. 138, against the previous closing price of Rs. 138.20. It touched an intra-day high of Rs 141.35.
30/10/2014 09:22
Zinc futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, hopes that a pickup in the world’s biggest economy, the US, may bolster demand for industrial metals lifted zinc futures as the US Federal Reserve signaled improvement in the US labour market while consumer confidence surged to the highest level in seven years in the month of October 2014. The Conference Board’s US consumer sentiment index rose to 94.5 in October from 89 in September.
At the MCX, Zinc futures for October 2014 contract closed at Rs. 141.20 per 1 kg, up by 2.17 per cent, after opening at Rs. 138, against the previous closing price of Rs. 138.20. It touched an intra-day high of Rs 141.35.
