Base Metals & Energy
Zinc prices rose by 0.60
per cent on Thursday at the domestic markets due to the decline in
the zinc stockpiles at the
London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc
stocks fell by 2650 metric tonnes to 543525 metric tonnes as on
March 12, 2015. Zinc futures
for March 2015 contract, at MCX, were trading at Rs 126 per kg, up
by 0.60 per cent after
opening at Rs. 125.20 against the previous closing price of Rs.
125.25. It touched the intra-day
high of Rs. 126.30 till the trading.
Copper prices rose by
0.60 per cent on Thursday at the domestic markets as a recent batch
of weaker than expected
Chinese economic data fueled speculation policymakers in Beijing
will have to introduce further
stimulus measures to boost growth and ward off deflation which raised the demand outlook
for the metal. At the mcx copper futures for April 2015 contract were trading at Rs.370.50
per 1 kg, up by 1.49 per cent, after opening at Rs. 364.35 against
the previous closing price of
Rs. 365.05. It touched the intra-day high of Rs. 371.30 till the
trading.
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