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Zinc futures down on weak global trend, subdued demand

Weakness on LME in early Asain trade also dragged prices

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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 MCX, 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 London Metal Exchange, 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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