Tag: Zinc

Zinc futures slip 1% on global cues

13/06/2017 16:16

Zinc futures fell 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal ahead of the US Fed’s policy meeting that kicks off later in the day, which could provide further clues over the timing of interest rate hikes this year.

Further, the central bank is widely expected to raise interest rates at its two-day meeting. Meanwhile, the focus will be on any fresh hints on the pace of further tightening in the months to come and next year, and any further details on its plans for trimming its balance sheet.

At the MCX, zinc futures for June 2017 contract is trading at Rs 157.75 per kg, down by 1 per cent, after opening at Rs 159.40, against a previous close of Rs 159.35. It touched the intra-day low of Rs 157.35 (at 16:17 hours).

Zinc futures slip 0.67% on global cues

Zinc futures slip 0.67% on global cues

12/06/2017 17:43

Zinc futures were trading lower during evening trade in the domestic market on Monday as investors and speculators exited their positions in the industrial metal ahead of the US Fed meeting and economic data from top consumer, China, which could yield clues to future demand growth.

Further, the central bank is widely expected to raise interest rates at its two-day meeting. Meanwhile, the focus will be on any fresh hints on the pace of further tightening in the months to come and next year, and any further details on its plans for trimming its balance sheet.

Besides, China’s economy is expected to show steady growth in May, buoyed by solid gains in trade and investment as economic ties with the US take a positive turn and infrastructure spending cushions domestic growth.

At the MCX, zinc futures for June 2017 contract is trading at Rs 162.05 per kg, down by 0.67 per cent, after opening at Rs 162.70, against a previous close of Rs 163.15. It touched the intra-day low of Rs 161.55 (at 17:43 hours).

Zinc futures in reverse gear on global cues

Zinc futures in reverse gear on global cues

06/06/2017 16:34

Zinc futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on signs of slowing growth in China and the United States.

Besides, tracking weakness in the steel markets, too influenced zinc prices at futures trade.

US services sector activity slowed last month as new orders tumbled, while China’s economy likely to remain on a stable footing last month, supported by solid gains in trade and investment as economic ties with the US take a positive turn and infrastructure spending cushions domestic growth.

At the MCX, zinc futures for June 2017 contract is trading at Rs 160 per kg, down by 0.16 per cent, after opening at Rs 160.85, against a previous close of Rs 160.25. It touched the intra-day low of Rs 158.90 (at 16:27 hours).

Zinc futures gain 0.83% on overseas cues

17/05/2017 16:58

Zinc futures were trading higher during evening trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal on upsurge in physical demand due to weakness in Asian equities and US dollar amid controversy around US President Donald Trump that he tried to quash an FBI probe.

According to Reuters report, Trump asked his now dismissed FBI Director James Comey to end a probe into ties between former national security adviser Michael Flynn and Russia, according to a source who has seen a memo written by Comey. The memo raises questions about whether Trump tried to interfere with a federal investigation. The White House denied the report.

At the MCX, zinc futures for May 2017 contract is trading at Rs 164.40 per kg, up by 0.83 per cent, after opening at Rs 163.60, against a previous close of Rs 163.05. It touched the intra-day high of Rs 164.90 (at 16:58 hours).

Zinc futures surge 1.95% on uptick in demand

Zinc futures surge 1.95% on uptick in demand

09/05/2017 16:23

Zinc futures rose over 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal on upsurge in physical demand from consuming industries.

However, a sharp drop in imports to China, the world’s biggest consumer, and high inventories, restricted further rise in zinc prices.

At the MCX, zinc futures for May 2017 contract is trading at Rs 170.10 per kg, up by 1.95 per cent, after opening at Rs 167.15, against a previous close of Rs 166.85. It touched the intra-day high of Rs 170.25 (at 16:24 hours).

Zinc futures keep head above water

Zinc futures keep head above water

05/04/2017 16:36

Zinc futures rose over 1 per cent during evening trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal buoyed by gains in the steel sector after a cyclone in Australia damaged transport routes for coking coal.

Further, traders eyeing for signs of a pick up in physical activity in China in Q1 and all its credit restraints of the last couple of weeks recede.

At the MCX, zinc futures for April 2017 contract is trading at Rs 180.75 per kg, up by 1.23 per cent, after opening at Rs 179, against a previous close of Rs 178.55. It touched the intra-day high of Rs 181.65 (at 16:32 hours).

Zinc futures rise on overseas cues

08/03/2017 16:46

Zinc futures were trading higher during evening trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal after upbeat Chinese trade data eclipsed an overall drop in the country’s imports of refined metal.

China unexpectedly posted a rare trade deficit in February as imports surged far more than expected to feed a months-long construction boom.

At the MCX, zinc futures for March 2017 contract is trading at Rs 180.25 per kg, up by 0.47 per cent, after opening at Rs 180.20, against a previous close of Rs 179.40. It touched the intra-day high of Rs 180.85 (at 16:40 hours).

Zinc futures fall on tepid demand

27/02/2017 16:47

Zinc futures were trading lower during evening trade in the domestic market on Monday as investors and speculators exited their positions in the industrial metal to book profits amid subdued demand.

Further, a drop in physical demand for zinc at the domestic spot market was due to trimming of bets by traders in the spot market, influenced zinc prices at futures trade. At the MCX, zinc futures for February 2017 contract is trading at Rs 187.50 per kg, down by 0.77 per cent, after opening at Rs 188.50, against a previous close of Rs 188.95. It touched the intra-day low of Rs 186.40 (at 16:39 hours).

Zinc futures in reverse gear on diminishing demand

16/02/2017 17:04

Zinc futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal amid fall in physical demand for zinc at the domestic spot market.

Further, a drop in physical demand for zinc at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced zinc prices at futures trade.

At the MCX, zinc futures for February 2017 contract is trading at Rs 190.90 per kg, down by 0.31 per cent, after opening at Rs 193, against a previous close of Rs 191.50. It touched the intra-day low of Rs 190.40 (at 16:59 hours).

Zinc futures in reverse gear

Zinc futures in reverse gear

07/02/2017 16:48

Zinc futures plunged during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on fall in demand due to recovery in the US dollar after a Fed official offered support for a March rate rise.

Philadelphia Federal Reserve Bank President Patrick Harker on Monday said that he would be open to raising interest rates again at the US central bank’s meeting in March if growth in jobs and wages continues.

At the MCX, zinc futures for February 2017 contract is trading at Rs 186.80 per kg, down by 0.32 per cent, after opening at Rs 187.25, against a previous close of Rs 187.40. It touched the intra-day low of Rs 186.05 (at 16:48 hours).