Zinc futures higher on physical demand, US data 17/06/2014

Zinc futures higher on physical demand, US data
17/06/2014 11:54
Zinc futures rose 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. Further, a rebound in US industrial output signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. US industrial output climbed 0.6 per cent in May 2014 over the previous month. Zinc futures for June 2014 contract, at MCX, were trading at Rs 126.50 per kg, up by 0.20 per cent after opening at Rs. 124.45 against the previous closing price of Rs. 126.25. (At 11:35 AM).

Zinc futures tumble on China probe 13/06/2014

Zinc futures tumble on China probe
13/06/2014 09:46
Zinc futures slumped in the domestic market on Thursday as investors and speculators exited positions in the base metal amid concerns that a probe into a warehousing financing fraud in China’s Qingdao port may crimp the demand for zinc as collateral. China’s State Reserve Bureau, along with Standard Chartered Plc, Citigroup Inc. and Standard Bank Group are investigating alleged fraud related to metals pledged to obtain financing. The probe may crimp zinc inventory financing, which is a source of demand. New local currency loans accelerated in China, the world’s biggest metals consumer, supporting the demand outlook for copper. China’s banks and financial institutions issued 870.8 billion new yuan loans in May, up from 774.7 billion yuan in the previous month. At the MCX, Zinc futures for June 2014 contract closed at Rs. 122.60 per 1 kg, down by 2.08 per cent, after opening at Rs. 125.30, against the previous closing price of Rs. 125.20. It touched an intra-day low of Rs 122.35

Zinc futures dip amid weak physical demand 06/06/2014

Zinc futures dip amid weak physical demand
06/06/2014 11:38
Zinc futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. However, a rise in German factory orders signaled a pickup in the Europe’s biggest economy, lifting the demand outlook for industrial metals. German factory orders rose 3.1 per cent in April 2014 over the previous month. At the MCX, Zinc futures for June 2014 contract is trading at Rs. 123.45 per 1 kg, down by 0.08 per cent, after opening at Rs. 123.35, against the previous closing price of Rs. 123.55. It touched an intra-day low of Rs 123.30. (At 11:23 AM).

Weak Euro area data weighs on Zinc futures 05/06/2014

Weak Euro area data weighs on Zinc futures
05/06/2014 09:38
Zinc futures ended lower in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Private sector output in the Euro area expanded at a slower pace in May, signaling a sluggish recovery in the 18-member economy, dimming the demand outlook for industrial metals. A combined gauge measuring Euro area manufacturing and services fell to 53.5 in May from 54 in the previous month, with a reading above 50 signaling expansion. At the MCX, Zinc futures for June 2014 contract closed at Rs. 123.65 per 1 kg, down by 0.56 per cent, after opening at Rs. 124.20, against the previous closing price of Rs. 124.35. It touched an intra-day low of Rs 123.10.

Zinc futures end higher on physical demand 02/06/2014

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.

Zinc futures end higher on China hopes 28/05/2014

Zinc futures end higher on China hopes
28/05/2014 09:31
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. Hopes that China, the world’s biggest metals consumer, may take more steps to boost growth in the world’s second biggest economy lifted the demand outlook for industrial metals. Chinese policymakers signaled over the weekend that the government may fine-tune policy to spur economic growth. US home prices rose at a slower pace in March, signaling a faltering housing recovery in the country, dimming the demand outlook for industrial metals, curbing gains in zinc futures. Home prices in 20 US cities rose 12.4 per cent, year on year in March 2014, compared to an annual gain of 12.9 per cent in February 2014, S&P said. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.95 per 1 kg, up by 0.33 per cent, after opening at Rs. 122.60, against the previous closing price of Rs. 122.55. It touched an intra-day high of Rs 123.20.

Zinc futures end higher on improving demand outlook : 27/05/2014

Zinc futures end higher on improving demand outlook
27/05/2014 09:23
Zinc futures closed higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Further, hopes that a pickup in economic growth in China, the world’s biggest metals consumer, may boost demand for the base metal also supported sentiment as China’s Premier Li Keqiang said that the government will adjust policy to help the real economy. Sentiment improved further after consumer confidence in Germany remained steady at the highest level since 2007 for the month of June while the ECB signaled a rate cut next month, improving the outlook for the 18-member Euro area economy, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.55 per 1 kg, up by 0.78 per cent, after opening at Rs. 122.10, against the previous closing price of Rs. 121.60. It touched an intra-day high of Rs 122.75.

Zinc futures up on robust physical demand : 26/05/2014

Zinc futures up on robust physical demand
26/05/2014 09:20
Zinc futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for zinc in the domestic spot market. Further, a bigger than expected rise in US new home sales signaled a revival in the country’s housing market recovery after a sluggish winter, lifting the demand outlook for zinc, which is widely used in the construction industry. New home sales in the US rose for the first time in three months in April 2014. Zinc futures may continue the upward journey today amid hopes of an improving demand outlook in the US. At the MCX, Zinc futures for May 2014 contract closed at Rs. 121.60 per 1 kg, up by 0.50 per cent, after opening at Rs. 121.20, against the previous closing price of Rs. 121. It touched an intra-day high of Rs 122.50.

Zinc futures end lower on weak physical demand : 23/05/2014

Zinc futures end lower on weak physical demand
23/05/2014 09:25
Zinc futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, a rise in the number of Americans filing for jobless claims rose more than expected last week, signaling a cooling labour market recovery in the world’s biggest economy, clouding the demand outlook for the industrial metal. However, a pickup in US manufacturing and improving Chinese factory activity supported the demand outlook for zinc. Zinc futures may rise today as an easing slowdown in China bolsters the demand outlook for the base metal. At the MCX, Zinc futures for May 2014 contract closed at Rs. 121 per 1 kg, down by 0.29 per cent, after opening at Rs. 121.45, against the previous closing price of Rs. 121.35. It touched an intra-day low of Rs 120.60.

Zinc futures end lower on weak physical demand : 22/05/2014

Zinc futures end lower on weak physical demand
22/05/2014 09:30
Zinc futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, concerns that slowing economic growth from China, the world’s biggest metals consumer, may crimp demand for the base metal in the near-term, also dampened sentiment. However, a rise in consumer confidence in the Euro area to the highest level since 2007 this month signaled a pickup in the region’s economic recovery, lifting the demand outlook for the base metal, curbing losses in zinc futures. Zinc futures may rise today as easing contraction in Chinese factories supports the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 121.35 per 1 kg, down by 0.49 per cent, after opening at Rs. 121.40, against the previous closing price of Rs. 121.95. It touched an intra-day low of Rs 120.35.

Zinc futures end lower on weak physical demand : 21/05/2014

Zinc futures end lower on weak physical demand
21/05/2014 09:25
Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, sentiment also weakened after a senior official from the Chinese commerce ministry said that the country may miss its target for exports and imports growth this year as higher labour costs and weaker global demand hits foreign trade growth, darkening the demand outlook for industrial metals, given that China is the world’s biggest metals consumer. Zinc futures may continue the downward journey today as investors weigh weaker growth prospects in China. At the MCX, Zinc futures for May 2014 contract closed at Rs. 121.95 per 1 kg, down by 0.16 per cent, after opening at Rs. 121.90, against the previous closing price of Rs. 122.15. It touched an intra-day low of Rs 121.60.

Zinc futures rebound on physical demand, China optimism : 20/05/2014

Zinc futures rebound on physical demand, China optimism
20/05/2014 09:36
Zinc futures ended higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Further, hopes that faster pace of financial reforms in China, the world’s biggest metals consumer, may boost growth in the world’s second biggest economy lifted the demand outlook for industrial metals, bolstering zinc prices. China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound. Zinc futures may trade on a positive note today amid hopes that financial reforms in China may boost economic growth and lift demand. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.15 per 1 kg, up by 0.78 per cent, after opening at Rs. 121.10, against the previous closing price of Rs. 121.20. It touched an intra-day high of Rs 122.50.

Zinc futures tumble on weak physical demand

Zinc futures tumble on weak physical demand

Zinc futures slumped in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. An unexpected dip in consumer confidence in the US signaled a faltering recovery in the world’s biggest economy, dimming the demand outlook for industrial metals. US consumer confidence fell in May, Thomson Reuters said. A slowdown in China’s inbound FDI singled a cooling recovery in the world’s biggest metals consumer, weighing on sentiment. Zinc futures may rise today as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 121.20 per 1 kg, down by 1.02 per cent, after opening at Rs. 122.05, against the previous closing price of Rs. 122.45. It touched an intra-day low of Rs 120.45.

Zinc futures tumble on physical demand, weak US factory data

Zinc futures tumble on physical demand, weak US factory data

Zinc futures slumped in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Factory output in the US fell last month, signaling a faltering recovery in the world’s biggest economy, darkening the demand outlook for industrial metals. US factory production fell by 0.4 per cent in April 2014 over the previous month. Zinc futures may trade on a cautious note today ahead of US housing starts and consumer sentiment data. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.45 per 1 kg, down by 1.92 per cent, after opening at Rs. 124.55, against the previous closing price of Rs. 124.85. It touched an intra-day high of Rs 122.35.

Weak demand outlook drags down Zinc futures

Weak demand outlook drags down Zinc futures

Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, a slowdown in China’s factory output expansion signaled a weak demand outlook for industrial metals, since China is the world’s biggest metals consumer. A fifth straight decline in German investor confidence in May signaled a cooling recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals Zinc futures may rise today as an uptick in US retail sales lifts the demand outlook for industrial metals. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.60 per 1 kg, down by 1.09 per cent, after opening at Rs. 123.95, against the previous closing price of Rs. 123.95. It touched an intra-day low of Rs 122.50.

Zinc futures end higher on physical demand, China data

Zinc futures end higher on physical demand, China data

Zinc futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid strong physical demand for zinc in the domestic spot market. Further, a rebound in China’s exports and imports last month signaled a pickup in the world’s second biggest economy, lifting the demand outlook for the industrial metal. However, an unexpected dip in industrial output in Germany in March 2014 signaled a faltering recovery in Europe’s biggest economy, dimming the demand outlook for top industrial commodities, trimming gains in zinc futures. Zinc futures may rise today as a slowdown in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy. At the MCX, Zinc futures for May 2014 contract closed at Rs. 122.25 per 1 kg, up by 0.25 per cent, after opening at Rs. 122.35, against the previous closing price of Rs. 121.95. It touched an intra-day high of Rs 123.10.