Zinc
Zinc (chemical symbol- Zn) is a bluish-white lustrous metal. It is normally covered with a white coating on exposure to the atmosphere.
It is the 4th most common metal in use behind iron, aluminum and copper in terms of annual production. Zinc can be recycled indefinitely, without loss of its physical or chemical properties. The principal use of zinc in the Indian market is in the galvanizing sector, which currently accounts for an estimated 70% of the total production.
Factors Affecting Zinc Market:
- Zinc prices in India are fixed based on the rates that rule on the international spot market, and Rupee and US Dollar exchange rates
- Economic events such as national industrial growth, global financial crisis, recession, and inflation affect commodity-specific events such as the metal prices
- Construction of new production facilities or processes, new uses or the discontinuance of historical uses, unexpected mine or plant closures (natural disaster, supply disruption, accident, strike, and so forth), or industry restructuring, all affect metal prices.
- Governments set trade policy (implementation or suspension of taxes, penalties, and quotas) that affect supply by regulating (restricting or encouraging) material flow.
- Geopolitical events involving governments or economic paradigms and armed conflict can cause major changes.
- There is also a national economic growth factor. Societies, as they develop, demand metals in a way that depends on their current economic position.
Zinc Price Movement:
Contract Specification:
- Zinc
* Symbol: ZINC
* Trading unit: 5 tons
* Maximum order size: 100 tons
* Tick Size: 5 paise per kg - Zinc Mini
* Symbol: ZINCMINI
* Trading unit: 1 MT
* Maximum order size: 100 tons
* Tick Size: 5 paise per kg
Zinc trades on the MCX platform.
The timing of the exchange is Monday to Friday: 09:00 A.M. to 11:30 P.M.
