Zinc futures end higher on physical demand
02/06/2014 09:17
Zinc futures ended higher in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. However, weak German data which a showed dip in retail sales signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals, trimming gains in zinc futures. German retail sales fell 0.9 per cent in April 2014 over the previous month. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.40 per 1 kg, up by 0.61 per cent, after opening at Rs. 121.20, against the previous closing price of Rs. 121.65. It touched an intra-day high of Rs 122.60.
02/06/2014 09:17
Zinc futures ended higher in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. However, weak German data which a showed dip in retail sales signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals, trimming gains in zinc futures. German retail sales fell 0.9 per cent in April 2014 over the previous month. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.40 per 1 kg, up by 0.61 per cent, after opening at Rs. 121.20, against the previous closing price of Rs. 121.65. It touched an intra-day high of Rs 122.60.
