Zinc falls by 2.4% on global cues
Speculators indulged in reducing positions after the metal retreated in global market amid muted domestic demand
 "Zinc falls by 2.4% on global cues")
Zinc futures fell by 2.36% to Rs 99.30 per kg today as speculators indulged in reducing positions after the metal retreated in global market amid muted domestic demand.
Zinc for delivery in the current month plunged Rs 2.40, or 2.36%, to Rs 99.30 per kg at the Multi Commodity Exchange. It clocked a business turnover of 372 lots.
Likewise, the metal for delivery in December softened by Rs 2.40, or 2.33%, to Rs 100.50 per kg in 53 lots.
Analysts attributed the fall in zinc futures to a weak trend at the London Metal Exchange (LME) as investors fear that China's shift to a consumer-driven economy from investment-led expansion will slow demand in the world's biggest consumer.
Zinc for delivery in the current month plunged Rs 2.40, or 2.36%, to Rs 99.30 per kg at the Multi Commodity Exchange. It clocked a business turnover of 372 lots.
Likewise, the metal for delivery in December softened by Rs 2.40, or 2.33%, to Rs 100.50 per kg in 53 lots.
Analysts attributed the fall in zinc futures to a weak trend at the London Metal Exchange (LME) as investors fear that China's shift to a consumer-driven economy from investment-led expansion will slow demand in the world's biggest consumer.