Zinc weakens 1.2% on subdued demand
Weak overseas trend influences prices
Zinc prices slipped by 1.23% to Rs 112.40 per kg in futures market today on subdued domestic demand amid a weak global trend.
At the Multi Commodity Exchange, zinc for delivery in September traded lower by Rs 1.40, or 1.23%, to Rs 112.40 per kg, with a business turnover of 2,109 lots.
October zinc shed Rs 1.30 or 1.13%, to Rs 113.30 per kg, with a business turnover of 234 lots.
Globally, zinc traded $27.25, or 1.28%, lower at $2,096.25 a tonne at the London Metal Exchange.
Marketmen said besides sluggish domestic demand, weak trend in the entire base metals pack at the London Metal Exchange as data from top consumer China showed manufacturing activity steadying, but not improving, weighed on zinc futures here.