Zinc updates - Zinc futures fell by over 1 per cent in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amidst sluggish physical demand for zinc in the domestic spot market.
However, the losses in the base metal were curbed by speculation that further monetary & fiscal stimulus in China, the world’s biggest metals consumer, may bolster zinc demand. China’s government stressed on the need to make monetary policy more “flexible” and fiscal policy more “forceful” with the country’s economy staring at the weakest pace of expansion in more than two decades this year. Further, concerns over a China slowdown eased as a leading index advanced at a quicker pace last month. The Conference Board said that its China leading economic index climbed 0.6 per cent in November from October, when it advanced 0.3 per cent.
At the MCX,
Zinc futures for December 2015 contract closed at Rs 99.9 per kg, down by 1.04 per cent after opening at Rs 100.45, against the previous closing price of Rs 100.95. It touched the intra-day low of Rs 99.6.
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