FREE MCX TIPS | Zinc futures rose by 0.64% to Rs 102.70/kg today due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3500 metric tonnes to 520650 metric tonnes as on Dec 9, 2015. Zinc futures for December 2015 contract, at MCX, were trading at Rs 102.70/kg, up by 0.64% after opening at Rs. 102.15 against the previous closing price of Rs. 102.05. It touched the intra-day high of Rs. 103.10 till the trading. (At 4.08 PM today). Prices also rose as speculators raised positions in the midst of a strong trend globally. Besides, high demand in domestic spot markets fuelled the uptrend.
Major refined zinc exporting countries are Australia, Canada and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.
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