Zinc falls on downbeat China data, strong dollar and rising stockpiles

Zinc prices fell by 1.96 per cent on Monday at the domestic markets after the National Bureau of Statistics of China said that Chinese Industrial Production fell to 9.9 per cent, from 10.3 per cent in the preceding month and Chinese Retail Sales fell to an annual rate of 12.3 per cent, from 15.2 per cent in the preceding month signaling weak activity in China, world’s largest consumer of metal which reduced the demand outlook for the metal. 

Zinc futures for March 2013 contract, at MCX, were trading at Rs. 104.95 per kg, down by 1.96 per cent after opening at Rs. 107.15 against the previous closing price of Rs. 107.05. It touched the intra-day low of Rs. 104.60 till the trading. [Via]

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