Zinc
futures marked a bullish finish in the domestic market on Monday as investors
and speculators booked fresh positions in the industrial metal amid firm
physical demand for Zinc in the domestic spot market.A mild rebound in a
regional US factory gauge signaled easing concerns over a manufacturing
slowdown in the world’s biggest economy, brightening the demand outlook for
industrial metals. The gauge measuring factory production in Dallas climbed to
0.9 in September from -0.8 in August, with a reading above 0 signaling
expansion.However, the gains in the metal were curbed by fears that a worsening
slowdown in China, the world’s second biggest metals consumer, may cap demand
for Zinc. Industrial profits in China nosedived 8.8 % , year on year in Aug
2015, worsening from a 2.9 per cent drop in July 2015, signaling deepening woes
of the world’s second biggest economy.
At
the MCX, Zinc futures for September 2015 contract closed at Rs 107.7 per kg, up
by 0.56 per cent after opening at Rs 107.65, against the previous closing price
of Rs 107.1. It touched the intra-day high of Rs 108.5.
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