Zinc falls on downbeat euro area data
10/06/2014 15:13
Zinc prices fell by 0.75 per cent on Tuesday at the domestic markets after investor confidence in the Euro area fell in June, signaling a faltering recovery in the 18-member economy which reduced the demand outlook for the metal. A gauge measuring Euro area investor confidence fell to 8.5 this month from 12.8 in May, Sentix said. Zinc futures for June 2014 contract, at MCX, were trading at Rs 125.55 per kg, down by 0.75 per cent after opening at Rs. 126.10 against the previous closing price of Rs. 126.50. It touched the intra-day low of Rs. 125 till the trading. (At 3.12 PM today). However, losses were curbed due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2475 metric tonnes to 695750 metric tonnes as on June 10, 2014. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
10/06/2014 15:13
Zinc prices fell by 0.75 per cent on Tuesday at the domestic markets after investor confidence in the Euro area fell in June, signaling a faltering recovery in the 18-member economy which reduced the demand outlook for the metal. A gauge measuring Euro area investor confidence fell to 8.5 this month from 12.8 in May, Sentix said. Zinc futures for June 2014 contract, at MCX, were trading at Rs 125.55 per kg, down by 0.75 per cent after opening at Rs. 126.10 against the previous closing price of Rs. 126.50. It touched the intra-day low of Rs. 125 till the trading. (At 3.12 PM today). However, losses were curbed due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2475 metric tonnes to 695750 metric tonnes as on June 10, 2014. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
