Zinc futures dip amid weak physical demand
06/06/2014 11:38
Zinc futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, a rise in German factory orders signaled a pickup in the Europe’s biggest economy, lifting the demand outlook for industrial metals. German factory orders rose 3.1 per cent in April 2014 over the previous month. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 123.45 per 1 kg, down by 0.08 per cent, after opening at Rs. 123.35, against the previous closing price of Rs. 123.55. It touched an intra-day low of Rs 123.30. (At 11:23 AM).
06/06/2014 11:38
Zinc futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, a rise in German factory orders signaled a pickup in the Europe’s biggest economy, lifting the demand outlook for industrial metals. German factory orders rose 3.1 per cent in April 2014 over the previous month. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 123.45 per 1 kg, down by 0.08 per cent, after opening at Rs. 123.35, against the previous closing price of Rs. 123.55. It touched an intra-day low of Rs 123.30. (At 11:23 AM).
