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Zinc futures down on weak global trend, subdued demand

Weakness on LME in early Asain trade also dragged prices

Read more on:    Zinc | Futures | Mcx | London Metal Exchange
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In range-bound movements, prices today fell by 0.23% after speculators reduced their positions, taking weak cues from overseas markets.

At the , zinc for delivery in June traded lower by 25 paise, or 0.23%, to Rs 108.40 per kg in business turnover of 3 lots.

The May contract was lower by 15 paise, or 0.14%, at Rs 107.85 per kg in 259 lots.

Market analysts said besides slackness in demand from consuming industries at domestic spot markets, weakness in most of base metals at the , also put pressure on the zinc futures prices here.

The three-month contract on LME shed 0.5% to $2,043 a tonne in early trade today.

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