Zinc Updates - Zinc futures retreated in the domestic market on Monday as investors and speculators exited positions in the industrial metal amidst tepid physical demand for zinc in the domestic spot market.
Further, traders weighed mixed US economic data which cast uncertainty over the base metal’s near-term demand outlook. A gauge of US leading indicators declined for the first time in three months in December 2015, down by 0.2 per cent from the prior month, raising fears over a slowdown in the world’s biggest economy.
However, US existing home sales climbed by a record 14.7 per cent to a 5.46 million annual pace in December while the gauge measuring manufacturing climbed to 52.7 this month from 51.2 in December.
At the MCX, Zinc futures for January 2016 contract is trading at Rs 101.5 per kg, down by 0.49 per cent after opening at Rs 101.6, against the previous closing price of Rs 102. It touched the intra-day low of Rs 101.4.
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