Tepid Euro area data weighs on Zinc
09/01/2015 09:32
Zinc futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal after German factory orders fell for the first time in three months in November while Euro area economic sentiment stalled last month, signaling a faltering recovery in the 18-member economy, clouding the demand outlook for the base metal.
German factory orders fell 2.4 per cent in November from the previous month. A gauge of Euro area economic confidence stood unchanged at 100.7 in December.
At the MCX, Zinc futures for January 2015 contract closed at Rs 134.70 per 1 kg, down by 0.15 per cent after opening at Rs 135.05, against the previous closing price of Rs 134.90. It touched the intra-day low of Rs 133.55 till the closing.
09/01/2015 09:32
Zinc futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal after German factory orders fell for the first time in three months in November while Euro area economic sentiment stalled last month, signaling a faltering recovery in the 18-member economy, clouding the demand outlook for the base metal.
German factory orders fell 2.4 per cent in November from the previous month. A gauge of Euro area economic confidence stood unchanged at 100.7 in December.
At the MCX, Zinc futures for January 2015 contract closed at Rs 134.70 per 1 kg, down by 0.15 per cent after opening at Rs 135.05, against the previous closing price of Rs 134.90. It touched the intra-day low of Rs 133.55 till the closing.
