Weak physical demand drags down Zinc
20/02/2015 08:08
Zinc futures closed lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Meanwhile, Japanese exports rose at the fastest pace in more than a year last month, signaling a strengthening recovery in the world’s third biggest economy, and lifting the demand outlook for industrial metals, trimming losses in the base metal. Japanese exports rose by 17 per cent in January from a year ago, the biggest jump since late 2013.
At the MCX, Zinc futures for February 2015 contract closed at Rs 128.75 per 1 kg, down by 0.54 per cent after opening at Rs 129.15, against the previous closing price of Rs 129.45. It touched the intra-day low of Rs 128.35 till the closing.
20/02/2015 08:08
Zinc futures closed lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Meanwhile, Japanese exports rose at the fastest pace in more than a year last month, signaling a strengthening recovery in the world’s third biggest economy, and lifting the demand outlook for industrial metals, trimming losses in the base metal. Japanese exports rose by 17 per cent in January from a year ago, the biggest jump since late 2013.
At the MCX, Zinc futures for February 2015 contract closed at Rs 128.75 per 1 kg, down by 0.54 per cent after opening at Rs 129.15, against the previous closing price of Rs 129.45. It touched the intra-day low of Rs 128.35 till the closing.
