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Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amidst tepid physical demand for zinc in the domestic spot market. Further, a drop in business sentiment in China signaled a worsening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for zinc.
Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amidst tepid physical demand for zinc in the domestic spot market. Further, a drop in business sentiment in China signaled a worsening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for zinc.
The MNI China Business indicator fell to 52.3 in January from 52.7 in December. At the MCX, Zinc futures for January 2016 contract closed at Rs 102 per kg, down by 0.29 per cent after opening at Rs 102.05, against the previous closing price of Rs 102.3. It touched the intra-day low of Rs 101.65.
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