Zinc in higher gear on firm physical demand
23/08/2016 13:58
Zinc futures rose during noon trade 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.
However, fresh signs of weakness in the Chinese economy, the largest metals consumer, restricted gains in zinc as China’s business sentiment indicator fell 1.2 points to 54.3 in August.
At the MCX, zinc futures for August 2016 contract is trading at Rs 154.20 per kg, up by 0.23 per cent, after opening at Rs 154.25, against a previous close of Rs 153.85. It touched the intra-day high of Rs 154.60 (at 13:53 PM).
23/08/2016 13:58
However, fresh signs of weakness in the Chinese economy, the largest metals consumer, restricted gains in zinc as China’s business sentiment indicator fell 1.2 points to 54.3 in August.
At the MCX, zinc futures for August 2016 contract is trading at Rs 154.20 per kg, up by 0.23 per cent, after opening at Rs 154.25, against a previous close of Rs 153.85. It touched the intra-day high of Rs 154.60 (at 13:53 PM).
