Zinc futures end higher on improving demand outlook
27/05/2014 09:23
Zinc futures closed higher in the domestic market on Monday 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, hopes that a pickup in economic growth in China, the world’s biggest metals consumer, may boost demand for the base metal also supported sentiment as China’s Premier Li Keqiang said that the government will adjust policy to help the real economy. Sentiment improved further after consumer confidence in Germany remained steady at the highest level since 2007 for the month of June while the ECB signaled a rate cut next month, improving the outlook for the 18-member Euro area economy, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.55 per 1 kg, up by 0.78 per cent, after opening at Rs. 122.10, against the previous closing price of Rs. 121.60. It touched an intra-day high of Rs 122.75.
27/05/2014 09:23
Zinc futures closed higher in the domestic market on Monday 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, hopes that a pickup in economic growth in China, the world’s biggest metals consumer, may boost demand for the base metal also supported sentiment as China’s Premier Li Keqiang said that the government will adjust policy to help the real economy. Sentiment improved further after consumer confidence in Germany remained steady at the highest level since 2007 for the month of June while the ECB signaled a rate cut next month, improving the outlook for the 18-member Euro area economy, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.55 per 1 kg, up by 0.78 per cent, after opening at Rs. 122.10, against the previous closing price of Rs. 121.60. It touched an intra-day high of Rs 122.75.
