Zinc futures dip on lower global trend
Zinc prices fell by Rs 2.35, or 1.96 per cent, to Rs 98.85 per kg in futures trading today on heavy-offloading by speculators in tandem with a weakening global trend.
At the Multi Commodity Exchange platform, zinc for September-month fell by Rs 2.35, or 2.32 per cent, to Rs 98.85 per kg, with an open interest of two lots.
Similarly, the metal for delivery in October-month lost Rs 2, or 1.96 per cent, to Rs 100.30 per kg, with an open interest of 10 lots.
Market analysts said heavy off-loading by speculators after reports of weakening trend in prices at the London Metal Exchange mainly pulled down the zinc prices.
Meanwhile, zinc declined 1 per cent to $2,225.50 a metric tonne on the London Metal Exchange.