Zinc futures gain on strong demand prospects 08/05/2015

Zinc futures gain on strong demand prospects
08/05/2015 16:26
Zinc prices rose by 0.13 per cent on Friday at the domestic markets after Spanish industrial production rose more-than-expected last month signling improving sentiment in the region which raised the demand outlook for the metal. In a report, Instituto Nacional de Estadistica said that Spanish Industrial Production rose to 2.9 per cent, from 0.9 per cent in the preceding month whose figure was revised up from 0.6 per cent. Zinc futures for May 2015 contract, at MCX, were trading at Rs 153.05 per kg, up by 0.13 per cent after opening at Rs. 152.15 against the previous closing price of Rs. 152.85. It touched the intra-day high of Rs. 153.50 till the trading. (At 4.21 PM today).
Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2500 metric tonnes to 459575 metric tonnes as on May 8, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany

German factory rebound lifts Zinc 08/05/2015

German factory rebound lifts Zinc
08/05/2015 09:30
Zinc futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as German factory orders snapped a two-month contraction in March, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc.
German factory orders rose by 0.9 per cent in March from the previous month, when they fell 0.9 per cent. On a year on year basis, orders climbed 1.9 per cent in March 2015.
At the MCX, Zinc futures for May 2015 contract closed at Rs 152.85 per 1 kg, up by 0.89 per cent after opening at Rs 150.95, against the previous closing price of Rs 151.5. It touched the intra-day high of Rs 153.65 till the closing.

Tepid physical demand weighs on Zinc 24/02/2015

Tepid physical demand weighs on Zinc
24/02/2015 09:29
Zinc futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, an uptick in German business confidence for a fourth month on the trot in February, signaled a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals, trimming losses in zinc futures. The gauge measuring German business confidence climbed to 106.8 in February from 106.7 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 126.65 per 1 kg, down by 0.20 per cent after opening at Rs 127.75, against the previous closing price of Rs 126.90. It touched the intra-day low of Rs 126.35 till the closing.

Weak physical demand drags down Zinc 20/02/2015

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.

Weak physical demand hits Zinc 18/02/2015

Weak physical demand hits Zinc
18/02/2015 09:41
Zinc futures closed lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Investors cast aside upbeat German data which showed a rise in investor confidence to a one-year high in February in Europe’s biggest economy, lifting the demand outlook for industrial metals. The gauge measuring German investor sentiment rose to 53 in February from 48.4 in January. At the MCX, Zinc futures for February 2015 contract closed at Rs 130.45 per 1 kg, down by 2.36 per cent after opening at Rs 133.4, against the previous closing price of Rs 133.6. It touched the intra-day low of Rs 130.35 till the closing.

Upbeat physical demand lifts Zinc 13/02/2015

Upbeat physical demand lifts Zinc
13/02/2015 09:26
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. However, tepid Euro area industrial output data which showed production coming to a halt in December signaled a weaker recovery in the 19-member economy, dimming the demand outlook for industrial metals, trimming gains in Zinc. At the MCX, Zinc futures for February 2015 contract closed at Rs 133.05 per 1 kg, up by 0.72 per cent after opening at Rs 131.85, against the previous closing price of Rs 132.10. It touched the intra-day high of Rs 133.6 till the closing.

Upbeat physical demand, China hopes lift Zinc 12/02/2015

Upbeat physical demand, China hopes lift Zinc
12/02/2015 09:17
Zinc futures closed higher in the domestic market on Wednesday 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, speculation of further policy easing in China, the world’s biggest metals consumer, boosted hopes of a pickup in demand for zinc. Consumer prices in China climbed at the weakest pace in more than five years in January 2015 while factory-gate prices fell for the 35th straight month, boosting stimulus bets.
At the MCX, Zinc futures for February 2015 contract closed at Rs 132.10 per 1 kg, up by 0.19 per cent after opening at Rs 131.9, against the previous closing price of Rs 131.85. It touched the intra-day high of Rs 133.15 till the closing.

Zinc ends tad higher on Europe hopes 06/02/2015

Zinc ends tad higher on Europe hopes
06/02/2015 09:33
Zinc futures closed with slim gains in the domestic market on Thursday after the EU raised its growth projections for the 19-member Euro area economy for 2015 and 2016 while German factory orders rebounded in December, lifting the demand outlook for industrial metals.
The Euro area economy may expand 1.3 per cent in 2015 and 1.9 per cent in 2016, up from November’s forecast of 1.1 per cent and 1.7 per cent, respectively, the EU said.
German factory orders climbed 4.2 per cent in December after a 2.4 per cent decline in the previous month.
At the MCX, Zinc futures for February 2015 contract closed at Rs 132.5 per 1 kg, up by 0.03 per cent after opening at Rs 132.2, against the previous closing price of Rs 132.45. It touched the intra-day high of Rs 132.7 till the closing.

Weak China data hits Zinc 05/02/2015

Weak China data hits Zinc
05/02/2015 09:26
Zinc futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after services activity in China, the world’s biggest metals consumer, expanded at the slowest clip in six months in January 2015, darkening the demand outlook for zinc.
The gauge measuring China services fell to 51.8 in January from 53.4 in December, with a reading above 50 signaling expansion, HSBC said.
However, private sector output growth accelerated in the Euro area, signaling a recovery in the 19-member economy, lifting demand outlook for zinc, trimming losses in the base metal. A combined gauge measuring Euro area manufacturing and services rose to 52.6 in January from 51.4 in December.
At the MCX, Zinc futures for February 2015 contract closed at Rs 132.45 per 1 kg, down by 0.71 per cent after opening at Rs 133, against the previous closing price of Rs 133.4. It touched the intra-day low of Rs 132.1 till the closing

Weak China factory data weighs on Zinc 03/02/2015

Weak China factory data weighs on Zinc
03/02/2015 09:30
Zinc futures fell in the domestic and overseas market on Monday as investors and speculators exited positions in the industrial metal after the first contraction in Chinese manufacturing in more than two years last month signaled bearish demand prospects for the metal.
The official China manufacturing PMI fell to 49.8 in January from 50.1 in December, with a reading below 50 signaling contraction.
However, acceleration in Euro area manufacturing last month signaled an improved demand outlook in the 19-member economy, trimming losses in the industrial metal. The gauge measuring Euro area manufacturing rose to 51 in January from 50.6 in December.
At the MCX, Zinc futures for February 2015 contract closed at Rs 131.45 per 1 kg, down by 0.38 per cent after opening at Rs 131.7, against the previous closing price of Rs 131.95. It touched the intra-day low of Rs 130.9 till the closing.

Strong physical demand lifts Zinc 02/02/2015

Strong physical demand lifts Zinc
02/02/2015 09:31
Zinc futures closed higher in the domestic market on Friday 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, the lowest jobless rate in the Euro area since August 2012 in December 2014 signaled an improving demand outlook in the 19-member economy. Euro area unemployment rate fell to 11.4 per cent in December 2014 from 11.5 per cent in November 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 130.40 per 1 kg, up by 0.97 per cent after opening at Rs 128.9, against the previous closing price of Rs 129.15. It touched the intra-day high of Rs 130.55 till the closing.

Tepid physical demand weighs on Zinc 29/01/2015

Tepid physical demand weighs on Zinc
29/01/2015 09:25
Zinc futures ended lower 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. However, the losses in the metal were curbed by an improving economic outlook in Germany where consumer confidence rose to over a 13-year high, signaling a pickup in Europe’s biggest economy, a bullish prospect for zinc. The gauge measuring German consumer confidence may rise to 9.3 points next month from 9 in January. At the MCX, Zinc futures for January 2015 contract closed at Rs 129.55 per 1 kg, down by 0.12 per cent after opening at Rs 130.3, against the previous closing price of Rs 129.7. It touched the intra-day low of Rs 129.25 till the closing.

Upbeat US demand outlook lifts Zinc 28/01/2015

Upbeat US demand outlook lifts Zinc
28/01/2015 09:32
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for zinc in the domestic spot market.
Further, a gauge of US consumer confidence rose to the highest level in more than seven years in January 2015 while sales of new homes surged to the highest in six years in December 2014 while services rose at an accelerated pace this month, signaling a pickup in the world’s biggest economy, lifting the demand outlook for the industrial metal.
Investors cast aside weak China data which showed an 8 per cent annual drop in industrial profits in December 2014, signaling a worsening economic slowdown in the world’s biggest metals consumer.
At the MCX, Zinc futures for January 2015 contract closed at Rs 129.7 per 1 kg, up by 1.01 per cent after opening at Rs 130.05, against the previous closing price of Rs 128.4. It touched the intra-day high of Rs 131.6 till the closing.

Weak China demand outlook weighs on Zinc 27/01/2015

Weak China demand outlook weighs on Zinc
27/01/2015 09:20
Zinc futures plunged in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a second straight contraction in manufacturing activity in China, in January, signaled a bearish demand outlook for industrial metals. China is the world’s biggest metals consumer.
Further, US manufacturing activity slid to a 12-month low in January as new orders softened, adding to a gloomy demand outlook for the base metal.
Investors cast aside data which showed that Euro area private sector gauge rose to a five-month high of 52.2 in January from 51.4 in December.
At the MCX, Zinc futures for January 2015 contract closed at Rs 128.4 per 1 kg, down by 2.06 per cent after opening at Rs 131.1, against the previous closing price of Rs 131.1. It touched the intra-day low of Rs 128.25 till the closing.

Stronger dollar, weak physical demand weigh on Zinc 23/01/2015

Stronger dollar, weak physical demand weigh on Zinc
23/01/2015 09:31
Zinc futures ended 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.
Further, a stronger dollar curbed the demand for zinc as an alternative asset. Stronger greenback makes the industrial metal more expensive for those holding other currencies, thus dimming demand.
However, an uptick in investor confidence in the 19-member Euro area this month signaled an improving demand outlook for industrial metals, trimming losses in zinc. The gauge measuring Euro area consumer confidence climbed to -8.5 in January from -11.5 in December, the EU said.
At the MCX, Zinc futures for January 2015 contract closed at Rs 131.10 per 1 kg, down by 0.27 per cent after opening at Rs 131.25, against the previous closing price of Rs 131.45. It touched the intra-day low of Rs 130.75 till the closing.

Strong physical demand, ECB hopes lift Zinc 22/01/2015

Strong physical demand, ECB hopes lift Zinc
22/01/2015 09:22
Zinc futures surged in the domestic market on Wednesday 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, speculation that the European Central Bank (ECB) may unveil a program for buying government bonds worth probably 550 billion-600 billion euro in a bid to stem the threat of deflation and revive the 19-member Euro area economy lifted the demand outlook for industrial metals.
At the MCX, Zinc futures for January 2015 contract closed at Rs 131.45 per 1 kg, up by 0.92 per cent after opening at Rs 129.85, against the previous closing price of Rs 130.25. It touched the intra-day high of Rs 131.60 till the closing.

Upbeat China, German data lifts Zinc 21/01/2015

Upbeat China, German data lifts Zinc
21/01/2015 09:19
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after China’s Q4 GDP and December industrial output data, which topped analysts’ estimates, signaled a recovery in the world’s second biggest economy, lifting the demand outlook for zinc. Gross Domestic Product (GDP) expanded by 7.3 per cent in the fourth quarter of 2014 from the same period a year ago, above analysts’ estimates of a 7.2 per cent advance. Chinese industrial output climbed 7.9 per cent in December 2014 from the year ago month, accelerating from an annual gain of 7.2 per cent in November 2014 and above the 7.4 per cent advance estimated by analysts. German investor sentiment rose for the third straight month in January 2015, rising to the highest level in eleven months, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for industrial metals. The gauge measuring German investor confidence rose by 13.5 points to 48.4 in January. At the MCX, Zinc futures for January 2015 contract closed at Rs 130.25 per 1 kg, up by 1.76 per cent after opening at Rs 128.45, against the previous closing price of Rs 128. It touched the intra-day high of Rs 130.40 till the closing.

Weak China demand outlook weighs on Zinc 20/01/2015

Weak China demand outlook weighs on Zinc
20/01/2015 09:33
Zinc futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Home prices in China, the world’s biggest metals consumer, fell in December, signaling a deepening property market slump, darkening the demand outlook for the base metal. China’s home prices fell 4.3 per cent, year on year in December 2014.
At the MCX, Zinc futures for January 2015 contract closed at Rs 128 per 1 kg, down by 0.93 per cent after opening at Rs 128.95, against the previous closing price of Rs 129.2. It touched the intra-day low of Rs 127.75 till the closing.

Robust physical demand lifts Zinc 19/01/2015

Robust physical demand lifts Zinc
19/01/2015 09:28
Zinc futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Prices also rose on bets of further monetary easing in China, which may help spur an economic revival in the world’s biggest metals consumer, lifting demand prospects for zinc. China’s central bank approved USD 8.1 billion of relending quotas to support the micro business and the agricultural industry while a government commission gave the nod to a plan to build urban rail networks in the Shandong province.
At the MCX, Zinc futures for January 2015 contract closed at Rs 129.20 per 1 kg, up by 1.89 per cent after opening at Rs 127, against the previous closing price of Rs 126.8. It touched the intra-day high of Rs 129.35 till the closing.

China easing hopes lift Zinc 16/01/2015

China easing hopes lift Zinc
16/01/2015 09:39
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as weaker than expected Chinese credit data raised hopes that policymakers may undertake further stimulus measures to help spur growth in the world’s second biggest economy, lifting the demand outlook for zinc. Chinese lenders issued 697.3 billion yuan worth of new loans in December, below November’s 852.7 billion yuan, government data showed. However, an uncertain global economic outlook curbed gains in the industrial metal after the IMF warned over weak global growth despite an improving US economy and falling oil prices. At the MCX, Zinc futures for January 2015 contract closed at Rs 126.8 per 1 kg, up by 0.24 per cent after opening at Rs 127.4, against the previous closing price of Rs 126.5. It touched the intra-day high of Rs 127.65 till the closing