For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Robust physical demand spurs Zinc rally

By Religare
|

Zinc futures rallied in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for Zinc in the domestic spot market.

Further, reduced odds of September Federal Reserve monetary tightening supported the demand outlook for Zinc, spurring buying in the industrial metal. While the Fed stressed that conditions which warrant rate tightening are approaching, policymakers are seeking more evidence of a pickup in economic growth and labour markets and need more confidence that inflation is moving towards the required goal.

 

However, worries that a steep China stock and currency sell-off may spread to other parts of the world's second biggest economy clouding the demand prospects for Zinc, trimming gains in the base metal.

At the MCX, Zinc futures for August 2015 contract is trading at Rs per 117.05 per kg, up by 0.26 per cent after opening at Rs 116.80, against the previous closing price of Rs 116.75. It touched the intra-day high of Rs 117.60. (At 12:17 PM).

Story first published: Thursday, August 20, 2015, 23:00 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more