Commodity Tips | Zinc futures spiked more than 1.7% during noon trade in the domestic market on Tuesday as investors and speculators booked fresh status in the industrial metal amidst a pickup in physical demand for Zinc in the domestic spot market. Further, a surge in China’s refined zinc imports to the highest level since January 2014 in October 2015 eased regard that a worsening economic slowdown in China, the world’s biggest metals consumer, may curb demand for Zinc. Speculation that the United State economy probably grew at a faster than initially estimated pace in Q3 signaled a pickup in the worlds economic recovery, boding well for zinc demand. At the MCX, Zinc futures for November 2015 contract is trading at Rs 103.8 per 1 kg, up by 1.76% after opening at Rs 101.85, against the previous closing price of Rs 102. It reached the intra-day high of 103.85. (At 12:08 PM).
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