MCX Base Metal Tips: Zinc futures jumped during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Traders shrugged off a plunge in German factory orders in April which raised concerns over the growth outlook in Europe’s biggest economy. Bookings for German factory shipments tumbled by 2 per cent in April from the previous month led by a drop in investment demand from outside the 19-member Euro area.
Zinc futures for June 2016 contract, at MCX, were trading at Rs 134.55 per kg, up by 0.67 per cent after opening at Rs. 134.65, against the previous closing price of Rs. 133.65. It touched the intra-day high of Rs. 135.25 till the trading.
Traders shrugged off a plunge in German factory orders in April which raised concerns over the growth outlook in Europe’s biggest economy. Bookings for German factory shipments tumbled by 2 per cent in April from the previous month led by a drop in investment demand from outside the 19-member Euro area.
Zinc futures for June 2016 contract, at MCX, were trading at Rs 134.55 per kg, up by 0.67 per cent after opening at Rs. 134.65, against the previous closing price of Rs. 133.65. It touched the intra-day high of Rs. 135.25 till the trading.
