Physical demand, US outlook lifts Zinc
12/12/2014 09:12
Zinc futures ended higher in the domestic market on Thursday 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, a pickup in US retail sales last month and a dip in the number of filings for seeking jobless benefits signaled a strong growth momentum in the world’s biggest economy, lifting the demand outlook for industrial metals.
US retail sales climbed 0.7 per cent in November over the previous month while jobless claims fell by 3,000 to 294,000 in the week ended December 6, 2014.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 136.35 per 1 kg, up by 0.59 per cent, after opening at Rs. 135.90, against the previous closing price of Rs. 135.55. It touched an intra-day high of Rs 136.85
12/12/2014 09:12
Zinc futures ended higher in the domestic market on Thursday 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, a pickup in US retail sales last month and a dip in the number of filings for seeking jobless benefits signaled a strong growth momentum in the world’s biggest economy, lifting the demand outlook for industrial metals.
US retail sales climbed 0.7 per cent in November over the previous month while jobless claims fell by 3,000 to 294,000 in the week ended December 6, 2014.
At the MCX, Zinc futures for December 2014 contract closed at Rs. 136.35 per 1 kg, up by 0.59 per cent, after opening at Rs. 135.90, against the previous closing price of Rs. 135.55. It touched an intra-day high of Rs 136.85
