Weekly Base Metal Tips Of 16/02/2015

Zinc prices rose by 0.40 percent on Friday at the domestic markets after the Euro zone economic growth accelerated unexpectedly in the final quarter of 2014 as the bloc's largest member, Germany, expanded at more than twice the expected rate which raised the demand outlook for the metal. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.80 per kg, up by 0.56 percent after opening at Rs. 132.90 against the previous closing price of Rs. 133.05. It touched the intra-day high of Rs. 134.05 till the trading.

Natural Gas futures tumbled in the domestic and overseas market on Thursday as investors and speculators exited positions in the energy commodity after supplies fell less than forecast last week, signaling weaker than expected demand for the heating fuel in the world’s biggest economy. US gas stockpiles fell 160 billion cubic feet in the week ended February 6, missing expectations for a drop of 168 billion cubic feet, and way below the five-year average decline of 178 billion cubic feet. At the MCX, Natural Gas futures for February 2015 contract closed at Rs 169.2 per 1 kg, down by 3.14 percent after opening at Rs 175.2, against the previous closing price of Rs 174.7. It touched the intra-day low of Rs 166.9 till the closing.