Zinc rises by 2.5% on overseas cues

Supported by a firming trend overseas and firm demand at spot markets, zinc futures prices today edged up by 2.46% to Rs 122.05 per kg as speculators created positions.

 

At the Multi Commodity Exchange, zinc for delivery in August up by Rs 2.90 paise, or 2.46%, to Rs 118.05 per kg, with a business turnover of 776 lots.

 

The metal for delivery in September also rose by Rs 2.60, or 2.22%, to Rs 122.05 per kg, with a business turnover of 130 lots.

 

Marketmen said besides improved demand in the spot market, a firming trend in select metals overseas on the back of strong US data, supported the upside in zinc prices at futures trade.

 

http://www.business-standard.com/article/markets/zinc-rises-by-2-5-on-overseas-cues-113081600248_1.html

Zinc up 0.7% on overseas cues

Zinc futures prices today edged up by 0.70% to Rs 108 per kg after speculators built-up positions, taking positive cues from the global market amid good demand in spot market.

At the Multi Commodity Exchange (MCX), the July contract edged up by 75 paise, or 0.70%, to Rs 108 per kg in 47 lots.

The June contract gained 70 paise, or 0.66%, to trade at Rs 106.70 per kg in 867 lots.

Traders said apart form improved demand in the spot market, firmness in copper and other base metals at the London Metal Exchange (LME), mainly influenced zinc futures here.
http://www.business-standard.com/article/markets/zinc-up-0-7-on-overseas-cues-113061700370_1.html

Zinc LME Daily Forecast – 11 April 2013

Zinc failed to reach 1938/42 resistance & broke 1920 to reach the 1904 level. A bounce from here is possible back up to 1920 but perhaps no further. If we do push on look for 1932 with any further gains likely to target 1938/42 resistance. Here we should run in to selling pressure so we could try shorts with a stop above 1948 as a break higher could then target 1964.
A break below the 1904 level should target 1893. We can look for a bounce from here but any longs would need a stop below 1185 for 1876/71.

http://www.fxempire.com/technical/technical-analysis-reports/zinc-lme-daily-forecast-11-april-2013/

Zambia seeks Indian co-operation for Zinc manufacturing

NEW DELHI: Zambian Vice President Guy Scott today sought India's co-operation for the manufacturing of zinc and other non-ferrous metals, during his visit to the facilities of Hindustan ZincBSE -0.39 % in Rajasthan.

"During his interaction with the senior management of Hindustan Zinc, Vice President expressed his happiness towards visiting world's largest integrated zinc producer," Hindustan Zinc, in which metal major Vedanta has majority stake, said in a statement.

The delegation discussed various areas including exchange of technology, human resource, investment opportunities and business excellence, among others.

Scott, who is on a two-day visit, also stressed on the need for sending an expert team to India for understanding the various Indian operations and compare with Zambian Operations.

Hindustan Zinc is the world's largest integrated zinc producer and also the largest lead and silver producer in India.

Vedanta has copper operations in Zambia through Konkola Copper Mine (KCM), which is one of the world's largest copper producers. KCM operates two mines at Nchanga, Zambia's largest private sector employer.

Scott is leading a high-power delegation, including trade minister Emmanuel Chenda and transport minister Christopher Yaluma, among others.

http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/metals-mining/zambia-seeks-indian-co-operation-for-zinc-manufacturing/articleshow/19134101.cms

Montreal Company To Buy Balmat Zinc Mine

Story Published: Feb 22, 2013 at 1:18 PM EST Story Updated: Feb 22, 2013 at 2:21 PM EST A Canadian company says it's buying the idled zinc mine in Balmat. Beaufield Resources of Montreal announced it has signed an exclusivity agreement and a non-binding letter of intent with HudBay Minerals to acquire the Balmat Zinc Mine. Beaufield said it hopes to close the deal in 90 days. Under the terms of the agreement, Beaufield would pay $12 million Canadian and up to $2 million Canadian in equity. HudBay closed down the mine in 2008, putting 200 workers out of a job. A previous purchase agreement from OMT Incorporated and New York Zinc fell through. http://www.wwnytv.com/news/local/Montreal-Company-To-Buy-Balmat-Zinc-Mine-192530531.html