Zinc futures end higher on China services
data
04/06/2014 09:28
Zinc futures ended higher 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. Non-manufacturing activity in China grew at a faster pace in May 2014 amid robust demand, a sign that the recovery in the world’s second biggest economy remains on track after the injection of limited stimulus by policymakers. The official gauge measuring services in China climbed to 55.5 in May from 54.8 in the previous month, the National Bureau of Statistics reported on Tuesday. A reading above 50 signals expansion in services activity over the previous month. At the MCX, Zinc futures for June 2014 contract closed at Rs. 124.35 per 1 kg, up by 0.36 per cent, after opening at Rs. 123.55, against the previous closing price of Rs. 123.90. It touched an intra-day high of Rs 124.65.
04/06/2014 09:28
Zinc futures ended higher 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. Non-manufacturing activity in China grew at a faster pace in May 2014 amid robust demand, a sign that the recovery in the world’s second biggest economy remains on track after the injection of limited stimulus by policymakers. The official gauge measuring services in China climbed to 55.5 in May from 54.8 in the previous month, the National Bureau of Statistics reported on Tuesday. A reading above 50 signals expansion in services activity over the previous month. At the MCX, Zinc futures for June 2014 contract closed at Rs. 124.35 per 1 kg, up by 0.36 per cent, after opening at Rs. 123.55, against the previous closing price of Rs. 123.90. It touched an intra-day high of Rs 124.65.
