Zinc moves down on sluggish demand
Zinc prices softened by 0.43% to Rs 103.65 per kg in futures market today on sluggish spot market demand amid weak trend in overseas markets.
At the Multi Commodity Exchange, the April zinc softened by 45 paise, or 0.43%, to Rs 103.65 per kg, with a business turnover of 83 lots.
The March delivery traded lower by 30 paise, or 0.29%, to Rs 102.70 per kg, with a business turnover of 1,891 lots.
Market analysts said besides sluggish spot demand, reports of a weak trend in overseas market mainly led to the decline zinc prices at futures trading.
Meanwhile, zinc decreased 0.7% to $2,056 a tonne on the London Metal Exchange.