You are here: Home » PTI Stories » National » News
Business Standard

Zinc futures fall over 2 per cent on profit-booking

Press Trust of India  |  New Delhi 

Zinc futures traded 2.02 per cent lower at Rs 184.55 per kg today as speculators trimmed positions to book profits even as the metal strengthened overseas.

Zinc for delivery in December declined by Rs 3.80, or 2.02 per cent, to Rs 184.55 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,116 lots.



Likewise, the metal for delivery in January softened by Rs 3.75, or 1.98 per cent, to Rs 185.20 per kg in 16 lots.

Analysts said the weakness in zinc at futures trade was mostly attributed to profit-booking at current levels, but metal's strength at the Metal Exchange (LME) amid signs that production will trail demand, capped the fall.

Globally, zinc for delivery in three months climbed 1 per cent to USD 2,728 per tonne on the LME. Prices climbed 9.8 per cent last month, the steepest advance since April 2015.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Zinc futures fall over 2 per cent on profit-booking

Zinc futures traded 2.02 per cent lower at Rs 184.55 per kg today as speculators trimmed positions to book profits even as the metal strengthened overseas. Zinc for delivery in December declined by Rs 3.80, or 2.02 per cent, to Rs 184.55 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,116 lots. Likewise, the metal for delivery in January softened by Rs 3.75, or 1.98 per cent, to Rs 185.20 per kg in 16 lots. Analysts said the weakness in zinc at futures trade was mostly attributed to profit-booking at current levels, but metal's strength at the London Metal Exchange (LME) amid signs that production will trail demand, capped the fall. Globally, zinc for delivery in three months climbed 1 per cent to USD 2,728 per tonne on the LME. Prices climbed 9.8 per cent last month, the steepest advance since April 2015. Zinc futures traded 2.02 per cent lower at Rs 184.55 per kg today as speculators trimmed positions to book profits even as the metal strengthened overseas.

Zinc for delivery in December declined by Rs 3.80, or 2.02 per cent, to Rs 184.55 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,116 lots.

Likewise, the metal for delivery in January softened by Rs 3.75, or 1.98 per cent, to Rs 185.20 per kg in 16 lots.

Analysts said the weakness in zinc at futures trade was mostly attributed to profit-booking at current levels, but metal's strength at the Metal Exchange (LME) amid signs that production will trail demand, capped the fall.

Globally, zinc for delivery in three months climbed 1 per cent to USD 2,728 per tonne on the LME. Prices climbed 9.8 per cent last month, the steepest advance since April 2015.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Zinc futures fall over 2 per cent on profit-booking

Zinc futures traded 2.02 per cent lower at Rs 184.55 per kg today as speculators trimmed positions to book profits even as the metal strengthened overseas.

Zinc for delivery in December declined by Rs 3.80, or 2.02 per cent, to Rs 184.55 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,116 lots.

Likewise, the metal for delivery in January softened by Rs 3.75, or 1.98 per cent, to Rs 185.20 per kg in 16 lots.

Analysts said the weakness in zinc at futures trade was mostly attributed to profit-booking at current levels, but metal's strength at the Metal Exchange (LME) amid signs that production will trail demand, capped the fall.

Globally, zinc for delivery in three months climbed 1 per cent to USD 2,728 per tonne on the LME. Prices climbed 9.8 per cent last month, the steepest advance since April 2015.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard