Zinc futures end higher on physical demand, China data
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid strong physical demand for zinc in the domestic spot market. Further, a rebound in China’s exports and imports last month signaled a pickup in the world’s second biggest economy, lifting the demand outlook for the industrial metal. However, an unexpected dip in industrial output in Germany in March 2014 signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for top industrial commodities, trimming gains in zinc futures. Zinc futures may rise today as a slowdown in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.25 per 1 kg, up by 0.25 per cent, after opening at Rs. 122.35, against the previous closing price of Rs. 121.95. It touched an intra-day high of Rs 123.10.
Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid strong physical demand for zinc in the domestic spot market. Further, a rebound in China’s exports and imports last month signaled a pickup in the world’s second biggest economy, lifting the demand outlook for the industrial metal. However, an unexpected dip in industrial output in Germany in March 2014 signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for top industrial commodities, trimming gains in zinc futures. Zinc futures may rise today as a slowdown in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.25 per 1 kg, up by 0.25 per cent, after opening at Rs. 122.35, against the previous closing price of Rs. 121.95. It touched an intra-day high of Rs 123.10.
