Weak demand outlook drags down Zinc futures
Zinc futures ended 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. Further, a slowdown in China’s factory output expansion signaled a weak demand outlook for industrial metals, since China is the world’s biggest metals consumer. A fifth straight decline in German investor confidence in May signaled a cooling recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals Zinc futures may rise today as an uptick in US retail sales lifts the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.60 per 1 kg, down by 1.09 per cent, after opening at Rs. 123.95, against the previous closing price of Rs. 123.95. It touched an intra-day low of Rs 122.50.
Zinc futures ended 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. Further, a slowdown in China’s factory output expansion signaled a weak demand outlook for industrial metals, since China is the world’s biggest metals consumer. A fifth straight decline in German investor confidence in May signaled a cooling recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals Zinc futures may rise today as an uptick in US retail sales lifts the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.60 per 1 kg, down by 1.09 per cent, after opening at Rs. 123.95, against the previous closing price of Rs. 123.95. It touched an intra-day low of Rs 122.50.
