Friday, December 11, 2015

Zinc futures rose by 2.06 percent in Todays Trade

Base Metal Zinc - Zinc futures rose by 2.06 per cent to Rs 104.10 per kg today as speculators increased positions in the midst of a strong trend globally. Besides, high demand in domestic spot markets fuelled the uptrend. Zinc futures for December 2015 contract, at MCX, were trading at Rs 104.10 per kg, up by 2.06 per cent after opening at Rs. 102.40 against the previous closing price of Rs. 102. It touched the intra-day high of Rs. 104.35 till the trading. (At 4.08 PM today). Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 4200 metric tonnes to 512850 metric tonnes as on December 11, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.