Zinc futures end higher on upbeat US demand outlook
20/06/2014 09:03
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Manufacturing activity in the US Philadelphia region expanded in June, signaling a pickup in the world’s biggest economy, lifting the demand outlook for top industrial commodities. The gauge measuring Philadelphia manufacturing rose to 17.8 in June from 15.4 in May, with a reading above 0 signaling expansion. At the MCX, Zinc futures for June 2014 contract closed at Rs. 129.40 per 1 kg, up by 1.13 per cent, after opening at Rs. 127.70, against the previous closing price of Rs. 127.95. It touched an intra-day high of Rs 129.50.
20/06/2014 09:03
Zinc futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Manufacturing activity in the US Philadelphia region expanded in June, signaling a pickup in the world’s biggest economy, lifting the demand outlook for top industrial commodities. The gauge measuring Philadelphia manufacturing rose to 17.8 in June from 15.4 in May, with a reading above 0 signaling expansion. At the MCX, Zinc futures for June 2014 contract closed at Rs. 129.40 per 1 kg, up by 1.13 per cent, after opening at Rs. 127.70, against the previous closing price of Rs. 127.95. It touched an intra-day high of Rs 129.50.
