Tepid physical demand hits Zinc
31/03/2015 12:59
Zinc futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal tracking weak domestic demand in the spot market.
However, hopes that China, the world’s biggest metals consumer, may bolster stimulus measures to ease an economic slowdown lifted the demand outlook for zinc, trimming losses in the base metal. A Chinese central bank official said that policymakers have ample scope to bolster stimulus to help spur growth in the world’s second biggest economy.
At the MCX, Zinc futures for March 2015 contract is trading at Rs 130.75 per 1 kg, down by 0.34 per cent after opening at Rs 130.25, against the previous closing price of Rs 131.20. It touched the intra-day low of Rs 130.25. (At 12:39 PM).
31/03/2015 12:59
Zinc futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal tracking weak domestic demand in the spot market.
However, hopes that China, the world’s biggest metals consumer, may bolster stimulus measures to ease an economic slowdown lifted the demand outlook for zinc, trimming losses in the base metal. A Chinese central bank official said that policymakers have ample scope to bolster stimulus to help spur growth in the world’s second biggest economy.
At the MCX, Zinc futures for March 2015 contract is trading at Rs 130.75 per 1 kg, down by 0.34 per cent after opening at Rs 130.25, against the previous closing price of Rs 131.20. It touched the intra-day low of Rs 130.25. (At 12:39 PM).
