Zinc is the fourth most widely used metal in the world after steel, aluminium, and copper. It is hard and brittle at most temperatures, but becomes malleable between 100 °C and 150 °C. It is a fair conductor of heat and electricity and burns with a bright bluish-green flame, giving off zinc oxide fumes. MCX Zinc occurs naturally in the earth’s crust and is the 24th most abundant element, with about 1.9 billion tonnes of identified resources. It is an essential trace element and necessary for plants, animals, and microorganisms. However, high levels of MCX Zinc exposure through inhalation, ingestion, and dermal contact could cause adverse health effects.
Due to its resistance to non-acidic atmospheric corrosion, MCX Zinc plays a vital role in extending the life of buildings, vehicles, ships, and so on. The metal is mainly used as an anti-corrosion agent, and a coat of zinc prevents rusting of galvanized steel. It also finds its use in the automobile, battery, petroleum, paint, fungicide, rubber, and chemical industries—a few among the many industrial uses it is being put to today. Stakeholders of the MCX Zinc market consisting among others, producers, exporters, marketers, processors, and SMEs, can use modern risk management techniques and strategies. Aim is to improve efficiency and consolidate competitiveness. These includes market-based risk management financial instruments like Zinc Futures, offered on the MCX India platform
Factors Influencing the price of MCX Zinc
► MCX Zinc prices in India are fixed based on the rates that rule in the international spot market. INR–USD exchange rates are also contribute to it.
► Economic events, such as the national industrial growth, global financial crisis, recession, and inflation, affect metal prices.
► As societies develop, their demand for metal increases based on their current economic position. Which could also be referred to as ‘national economic growth factor.