Base Metals & Energy
Crude oil prices fell by 0.65 per cent on Friday at the domestic markets with key producers showing no signs of cutting output in the face of a global supply glut. Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices even as demand slows globally. Meanwhile, annual consumer inflation in China remained near the lowest in five years, signaling persistent weakness in the world's largest energy consumer. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,075 per barrel, up by 0.65 per cent, after opening at Rs. 3,075 against the previous closing price of Rs. 3,055. It touched the intra-day high of Rs. 3,093 till the
trading. (At 12.15 PM).
ZINC
Zinc prices rose by 0.04 per cent on Friday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 3200 metric tonnes to 673175 metric tonnes as on Jan 9, 2015. Zinc futures for January 2015 contract, at MCX, were trading at Rs 134.75 per kg, up by 0.04 per cent after opening at Rs. 134.50 against the previous closing price of Rs. 134.70. It touched the intra-day high of Rs. 135.40 till the trading. (At 3.45 PM).
D A I L Y B U Z Z
CRUDEOILCrude oil prices fell by 0.65 per cent on Friday at the domestic markets with key producers showing no signs of cutting output in the face of a global supply glut. Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices even as demand slows globally. Meanwhile, annual consumer inflation in China remained near the lowest in five years, signaling persistent weakness in the world's largest energy consumer. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,075 per barrel, up by 0.65 per cent, after opening at Rs. 3,075 against the previous closing price of Rs. 3,055. It touched the intra-day high of Rs. 3,093 till the
trading. (At 12.15 PM).
ZINC
Zinc prices rose by 0.04 per cent on Friday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 3200 metric tonnes to 673175 metric tonnes as on Jan 9, 2015. Zinc futures for January 2015 contract, at MCX, were trading at Rs 134.75 per kg, up by 0.04 per cent after opening at Rs. 134.50 against the previous closing price of Rs. 134.70. It touched the intra-day high of Rs. 135.40 till the trading. (At 3.45 PM).
