 "Zinc falls by 1.5% on global cues")
Zinc futures fell by 1.50% to Rs 108.35 per kg today as speculators indulged in reducing positions after the metal retreated to the lowest level since June 2010 in global market on swelling inventories.
Zinc for delivery in current month plunged Rs 1.65, or 1.50% to Rs 108.35 per kg at the Multi Commodity Exchange. It clocked a business turnover of 48 lots.
Likewise, the metal for delivery in October softened by Rs 1.50, or 1.35%, to Rs 109.65 per kg in 50 lots.
Zinc slid 2.5% at the LME and by 4.5% to 13,660 yuan ($2,145) per tonne in Shanghai as a surge in inventories heightened investors concern about demand prospects amid the economic slowdown in China.
Zinc for delivery in current month plunged Rs 1.65, or 1.50% to Rs 108.35 per kg at the Multi Commodity Exchange. It clocked a business turnover of 48 lots.
Likewise, the metal for delivery in October softened by Rs 1.50, or 1.35%, to Rs 109.65 per kg in 50 lots.
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Analysts attributed fall in zinc futures to a weak trend at the London Metal Exchange (LME).
Zinc slid 2.5% at the LME and by 4.5% to 13,660 yuan ($2,145) per tonne in Shanghai as a surge in inventories heightened investors concern about demand prospects amid the economic slowdown in China.