FREE MCX TIPS | Zinc futures surged by over 1 per cent in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity amidst a pickup in physical demand for zinc in the domestic spot market.
Further, dismal China trade data which showed that the country’s exports fell for the fifth straight month in November and imports tumbled for a record 13th month on the trot, signaled a worsening slowdown in the world’s second biggest economy, bolstering bets of further monetary and fiscal stimulus to get growth back on track, auguring well for metals.
While China’s overseas shipments fell 3.7%, year on year, in yuan terms, in November 2015, imports dropped 5.6%.
At the MCX, Zinc futures for December 2015 agreement closed at Rs 102.05 per kg, up by 1.04 per cent after opening at Rs 101.35, against the last closing price of Rs 101. It touched the intra-day high of Rs 102.40.
Further, dismal China trade data which showed that the country’s exports fell for the fifth straight month in November and imports tumbled for a record 13th month on the trot, signaled a worsening slowdown in the world’s second biggest economy, bolstering bets of further monetary and fiscal stimulus to get growth back on track, auguring well for metals.
While China’s overseas shipments fell 3.7%, year on year, in yuan terms, in November 2015, imports dropped 5.6%.
At the MCX, Zinc futures for December 2015 agreement closed at Rs 102.05 per kg, up by 1.04 per cent after opening at Rs 101.35, against the last closing price of Rs 101. It touched the intra-day high of Rs 102.40.
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