Base Metal: Zinc rises on strong demand bets

In the domestic market Zinc futures rose during evening trade on Friday as investors & speculators extended their positions in the industrial metal on bets that demand rose faster than supply amid a broad-based rally across the metals complex.

At the MCX, for Nov 2016 contract zinc futures is trading at Rs 188.60 per kg, up by 0.72 %, after opening at Rs 189.95, against a last close of Rs 187.25. It touched the intra-day higher of Rs 189.95.

Read More - Zinc Updates

Continue reading →

Base Metal: Zinc futures zoom 2.08% in market today

Zinc futures rise over 2 per cent during morning trade in the domestic market on Monday as investors & speculators built up new positions in the industrial metal amid uptick in physical demand for zinc from major consuming industries at the domestic spot market.

At the MCX, zinc futures for November 2016 contract is trading at Rs 176.40 per kg, upward by 2.08 %, after opening at Rs 175, against a last close of Rs 172.80. It touched the intra-day higher of Rs 176.45.

Continue reading →

Base Metal: Zinc down by 0.64% in market today

During the morning trade in the domestic market on Friday Zinc futures were trading low as investors & speculators remained on the sidelines in the industrial metal as speculators in China took their foot off the pedal and the stronger dollar scared investors from buying commodities.

Moreover, Zinc prices were also influenced due to cut downward of positions by traders in the industrial metal amid fall in physical demand from alloy-makers at the domestic spot markets. 

At the MCX, zinc futures for Nov. 2016 contract is trading at Rs 169.75 per kg, downward by 0.64 %, after opening at Rs 170.45, against a last close of Rs 170.85. It touched the intra-day lower of Rs 169.70.

Continue reading →

Base Metal: Zinc futures little changed on muted demand today

During the morning trade Zinc futures were little changed in the domestic market on Tuesday as investors & speculators remained on the sidelines in the industrial metal among muted physical demand from consuming industries at the domestic spot markets.

At the MCX, for November 2016 contract zinc futures is trading at Rs 164.65 per kg, downward by 0.09 %, after opening at Rs 164.65, against a last close of Rs 164.80. It touched the intra-day lower of Rs 164.25.

Continue reading →

Zinc futures little changed on muted demand today

Zinc futures were slightly changed during the morning trade in the domestic market on Thursday as investors and speculators remained on the diversions amid subdued demand from consuming industries at the domestic spot markets.

Further, a decline in demand for zinc at the domestic spot market was caused by cut down of bets by traders in the spot market, influenced zinc rates at futures trade.

 At the MCX, zinc futures for September 2016 contract is trading at Rs 151.70 per kg, downward by 0.07 %, after opening at Rs 152.10, against a last close of Rs 151.80. It touched the intra-day lower of Rs 151.55.

Continue reading →

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.

Continue reading →

Zinc Slips on Bearish Buying Interest

 

Zinc Metal Update - Zinc futures fell by 1.28 per cent to Rs 100.40 per kg in futures trade today as speculators reduced positions in the midst of a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for November 2014 contract, at MCX, were trading at Rs 100.40 per kg, down by 1.28 per cent after opening at Rs. 100.90 against the previous closing price of Rs. 101.70. It touched the intra-day low of Rs. 98.65 till the trading.

 

However, losses were curbed 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 1375 metric tonnes to 549525 metric tonnes as on November 23, 2014.
 

Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

Continue reading →

Strong Physical Demand, US outlook Lifts Zinc

Free commodity tips - Zinc futures advanced in the local market on Thursday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in demand in the domestic spot market.
 

A regional manufacturing gauge in the US rebounded in November following two negative readings, lifting the demand outlook for the metal in the world’s biggest economy. The Philadelphia Manufacturing Index stood at 1.9 in November, compared to -4.5 in October, with a reading above o signaling expansion.
 

At the MCX, Zinc futures for November 2015 contract closed at Rs 100.45 per kg, up by 0.60 per cent after opening at Rs 99.25, against the previous closing price of Rs 99.85. It touched the intra-day high of Rs 100.65.

Continue reading →

Zinc Nosedives Over 2% on Demand Outlook

Zinc futures Goes Down by more than 2 % in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid Slow physical demand for zinc in the domestic spot market.

Further, a surprise drop in US industrial output in October and a fall in Euro area investor confidence this month signaled concerns over the outlook for the industrial metal as the global economy slows.

Overall output at US mines, factories and utilities fell by 0.2 per cent in October 2015 from the previous month while the gauge measuring Euro area economic sentiment fell to 28.3 in November from 30.1 in October.

At the MCX, Zinc futures for November 2015 contract closed at Rs 101.4 per kg, down by 2.31 per cent after opening at Rs 103.35, against the previous closing price of Rs 103.80. It touched the intra-day low of Rs 101.30.

Read More - Free Commodity Tips

Continue reading →