Zinc futures fell by 0.86 per-cent to Rs 104.30 per kg today as speculators decreased positions in the midst of a weak trend globally. Besides this, low demand in native spot markets fuelled the downtrend.
Zinc futures for Dec 2015 contract, at MCX, were trading at Rs 104.30 per kg, down by 0.86 per-cent after opening at Rs. 104.65 against the previous closing price of Rs. 105.20. It reached the intra-day low of Rs. 103.80 till the trading. (At 4.08 PM today).
Moreover, losses were limited due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong requirement for the commodity. LME zinc stocks fell by 2600 metric tonnes to 540000 metric tonnes as on Dec 2, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries includes USA, China and Germany.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries includes USA, China and Germany.
No comments:
Post a Comment