Free Commodity Tips - Zinc futures ended higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Meanwhile, Texas manufacturing activity showed improvement in the month of November as the Dallas Fed’s production index climbed to 5.2 from 4.8 in October, with a reading above zero signaling expansion, indicating a pickup in the world’s biggest economy, bolstering the demand outlook for industrial metals.
Sharp losses in the industrial metal on Friday when prices had slid by over 3.5 per cent amid concerns that a worsening economic slowdown in China may curb zinc demand, offered a good bargain buying opportunity in zinc, to investors & speculators, at existing levels.
At the MCX, Zinc futures for November 2015 contract closed at Rs 103.20 per kg, up by 0.63 per cent after opening at Rs 102.20, against the previous closing price of Rs 102.55. It touched the intra-day high of Rs 103.50.
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