Friday, March 11, 2016

Mcx : Zinc Bears rule the roost 11 Mar, 2016 Zinc futures jumped by more than 1 per-cent in the native market on yesterday as investors, traders and speculators quit positions in the industrial metal amid weak physical requirement for zinc in the native spot market.Click for Free Trial

Furthermore, a drop in German exports in January indicated a cooling recovery in Europe’s largest economy, clouding the requirement overview for the metal. German exports fell down by 0.5 per cent in Jan 2016 over the previous month.

Flagging further concerns over the overview in the 19-member economy, the ECB slashed its growth forecast for 2016 to 1.4 per-cent from 1.7 per-cent while that for 2017 was decreased to 1.7 per-cent from 1.9 per-cent.

MCX : Zinc futures for March 2016 contract ended at Rs 119.05 per kg, down by 1.5 per cent after unlocking at Rs 120.65, against the previous closing price of Rs 120.85. It then, reached the intra-day low of Rs 118.75.