Zinc futures rebound on physical demand, China optimism
20/05/2014 09:36
Zinc futures ended 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 faster pace of financial reforms in China, the world’s biggest metals consumer, may boost growth in the world’s second biggest economy lifted the demand outlook for industrial metals, bolstering zinc prices. China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound. Zinc futures may trade on a positive note today amid hopes that financial reforms in China may boost economic growth and lift demand. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.15 per 1 kg, up by 0.78 per cent, after opening at Rs. 121.10, against the previous closing price of Rs. 121.20. It touched an intra-day high of Rs 122.50.
20/05/2014 09:36
Zinc futures ended 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 faster pace of financial reforms in China, the world’s biggest metals consumer, may boost growth in the world’s second biggest economy lifted the demand outlook for industrial metals, bolstering zinc prices. China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound. Zinc futures may trade on a positive note today amid hopes that financial reforms in China may boost economic growth and lift demand. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.15 per 1 kg, up by 0.78 per cent, after opening at Rs. 121.10, against the previous closing price of Rs. 121.20. It touched an intra-day high of Rs 122.50.
