ZINCZinc prices rose by 0.15 percent on Thursday at the domestic markets 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 3275 metric tonnes to 649400 metric tonnes as on Jan 22, 2015. Zinc futures for January 2015 contract, at MCX, were trading at Rs 131.65 per kg, up by 0.15 per cent after opening at Rs. 131.25 against the previous closing price of Rs. 131.45. It touched the intra-day high of Rs. 132.30 till the trading.
CRUDE OIL
Crude oil prices fell by 0.51 percent on Thursday at the domestic markets ahead of an expected announcement of a bond-buying program by the European Central Bank (ECB) that could push the dollar to new highs and put downward pressure on commodities.The ECB's Executive Board has proposed a program that would enable it to buy 50 billion euros ($58 billion) in bonds a month starting in March, a euro zone source said.At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,933 per barrel, down by 0.51 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day low of Rs. 2,930 till the trading.
Crude oil prices fell by 0.51 percent on Thursday at the domestic markets ahead of an expected announcement of a bond-buying program by the European Central Bank (ECB) that could push the dollar to new highs and put downward pressure on commodities.The ECB's Executive Board has proposed a program that would enable it to buy 50 billion euros ($58 billion) in bonds a month starting in March, a euro zone source said.At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,933 per barrel, down by 0.51 per cent, after opening at Rs. 2,947 against the previous closing price of Rs. 2,948. It touched the intra-day low of Rs. 2,930 till the trading.
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