Zinc softens over 1% on global cues
Prices went down as speculators trimmed positions
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Zinc prices down by 1.02% to 102.20 per kg in futures trade today as speculators trimmed positions, tracking a weak global trend on demand concerns.
At the Multi Commodity Exchange (MCX), the May contract declined by Rs 1.05, or 1.02%, to Rs 102.20 per kg in 727 lots.
The June contract shed 95 paise, or 0.91%, to Rs 103.30 per kg in 82 lots.
Analysts said the weakness in zinc at futures trade was mostly attributed to a subdued global trend in the entire base metals on disappointing manufacturing data from China, the world's biggest consumer.
At the Multi Commodity Exchange (MCX), the May contract declined by Rs 1.05, or 1.02%, to Rs 102.20 per kg in 727 lots.
The June contract shed 95 paise, or 0.91%, to Rs 103.30 per kg in 82 lots.
Analysts said the weakness in zinc at futures trade was mostly attributed to a subdued global trend in the entire base metals on disappointing manufacturing data from China, the world's biggest consumer.
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First Published: May 23 2013 | 2:25 PM IST