Zinc futures end higher on physical demand, Euro area data
18/06/2014 09:11
Zinc futures jumped in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Investor confidence in the Euro area rose in June as investors cheered the recent measures by the ECB to stem deflation and boost demand in the 18-member economy, lifting the demand outlook for industrial metals. The gauge measuring Euro area investor confidence rose to 58.4 in June from 55.2 in the previous month. Further, China, the world’s biggest metals consumer vowed that economic growth in 2014 will meet the targeted 7.5 per cent. At the MCX, Zinc futures for June 2014 contract closed at Rs. 127.80 per 1 kg, up by 1.23 per cent, after opening at Rs. 126.45, against the previous closing price of Rs. 126.25. It touched an intra-day high of Rs 127.90.
18/06/2014 09:11
Zinc futures jumped in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Investor confidence in the Euro area rose in June as investors cheered the recent measures by the ECB to stem deflation and boost demand in the 18-member economy, lifting the demand outlook for industrial metals. The gauge measuring Euro area investor confidence rose to 58.4 in June from 55.2 in the previous month. Further, China, the world’s biggest metals consumer vowed that economic growth in 2014 will meet the targeted 7.5 per cent. At the MCX, Zinc futures for June 2014 contract closed at Rs. 127.80 per 1 kg, up by 1.23 per cent, after opening at Rs. 126.45, against the previous closing price of Rs. 126.25. It touched an intra-day high of Rs 127.90.
