Zinc drops by 0.65% waning demand
20/10/2014 15:31
Zinc prices fell by 0.65 per cent on Monday at the domestic markets after fears of a recession in Germany, Europe’s biggest economy have risen after industrial output and exports plunged the most in over five years in August 2014 while the 18-member Euro area economy is struggling to avert the threat of deflation which reduced the demand outlook for the metal. Zinc futures for October 2014 contract, at MCX, were trading at Rs 137.15 per kg, down by 0.65 per cent after opening at Rs. 137.65 against the previous closing price of Rs. 138.05. It touched the intra-day low of Rs. 137.10 till the trading. (At 3.30 PM today).
However, losses were limited due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 1575 metric tonnes to 721575 metric tonnes as on October 20, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
20/10/2014 15:31
Zinc prices fell by 0.65 per cent on Monday at the domestic markets after fears of a recession in Germany, Europe’s biggest economy have risen after industrial output and exports plunged the most in over five years in August 2014 while the 18-member Euro area economy is struggling to avert the threat of deflation which reduced the demand outlook for the metal. Zinc futures for October 2014 contract, at MCX, were trading at Rs 137.15 per kg, down by 0.65 per cent after opening at Rs. 137.65 against the previous closing price of Rs. 138.05. It touched the intra-day low of Rs. 137.10 till the trading. (At 3.30 PM today).
However, losses were limited due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 1575 metric tonnes to 721575 metric tonnes as on October 20, 2014.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
