Weak Euro area outlook takes toll on Zinc
08/01/2015 09:47
Zinc futures slumped in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, consumer prices in the Euro area fell for the first time in more than five years in December 2014 on an annual basis, raising fears of deflation in the 18-member economy, and clouding the demand outlook for industrial metals. Consumer prices declined 0.2 per cent in December 2014 from the same month a year ago.
At the MCX, Zinc futures for January 2015 contract closed at Rs 134.90 per 1 kg, down by 1.86 per cent after opening at Rs 137.60, against the previous closing price of Rs 137.45. It touched the intra-day low of Rs 134.60 till the closing
08/01/2015 09:47
Zinc futures slumped in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, consumer prices in the Euro area fell for the first time in more than five years in December 2014 on an annual basis, raising fears of deflation in the 18-member economy, and clouding the demand outlook for industrial metals. Consumer prices declined 0.2 per cent in December 2014 from the same month a year ago.
At the MCX, Zinc futures for January 2015 contract closed at Rs 134.90 per 1 kg, down by 1.86 per cent after opening at Rs 137.60, against the previous closing price of Rs 137.45. It touched the intra-day low of Rs 134.60 till the closing
