Zinc down 0.8% on weak global cues, sluggish demand
Market analysts said weak global trend are putting pressure on metal at futures trade
 "Zinc down 0.8% on weak global cues, sluggish demand")
Tracking a weak trend in base metals overseas and subdued spot demand, zinc futures prices today fell 0.84% to Rs 129.10 per kg as speculators reduced positions.
At the Multi Commodity Exchange, zinc prices for delivery in September declined by Rs 1.10, or 0.84%, to Rs 129.10 per kg in business turnover of 227 lots.
Likewise, zinc prices for delivery in October traded lower by Rs 1.05, or 0.80%, to Rs 130.30 per kg in just one lot.
Market analysts said besides sluggish domestic demand in the spot market, weak global trend amid mounting concern over the Fed scaling back stimulus are putting pressure on metal at futures trade.
At the Multi Commodity Exchange, zinc prices for delivery in September declined by Rs 1.10, or 0.84%, to Rs 129.10 per kg in business turnover of 227 lots.
Likewise, zinc prices for delivery in October traded lower by Rs 1.05, or 0.80%, to Rs 130.30 per kg in just one lot.
Market analysts said besides sluggish domestic demand in the spot market, weak global trend amid mounting concern over the Fed scaling back stimulus are putting pressure on metal at futures trade.