Zinc futures end lower on physical demand, global growth fears
12/06/2014 09:24
Zinc futures closed 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. Sentiment also weakened after the World Bank cut its forecasts for global economic growth in 2014, dimming the demand outlook for industrial metals. The World Bank expects the global economy to expand 2.8 per cent in 2014, down from an earlier expected 3.2 per cent expansion. At the MCX, Zinc futures for June 2014 contract closed at Rs. 125.20 per 1 kg, down by 0.75 per cent, after opening at Rs. 126.60, against the previous closing price of Rs. 126.15. It touched an intra-day low of Rs 124.85.
12/06/2014 09:24
Zinc futures closed 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. Sentiment also weakened after the World Bank cut its forecasts for global economic growth in 2014, dimming the demand outlook for industrial metals. The World Bank expects the global economy to expand 2.8 per cent in 2014, down from an earlier expected 3.2 per cent expansion. At the MCX, Zinc futures for June 2014 contract closed at Rs. 125.20 per 1 kg, down by 0.75 per cent, after opening at Rs. 126.60, against the previous closing price of Rs. 126.15. It touched an intra-day low of Rs 124.85.
