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Zinc futures dip 3.67 pc on global cues, low demand

Press Trust of India  |  New Delhi 

prices dipped by 3.67 per cent to Rs 174.70 per kg in futures market today as speculators cut bets amid weak trend overseas and fall in demand at the spot market.

Furthermore, fall in demand from consuming industries at domestic spot market, influenced prices.

At the Multi Commodity Exchange, for delivery in July declined by Rs 6.65, or 3.67 per cent, to Rs 174.70 per kg in a business turnover of 4,388 lots.

Likewise, the for delivery in 6.65, or 3.66 per cent, to Rs 174.85 per kg in 181 lots.

Analysts attributed the slide in prices at futures trade to a weak trend overseas and a slump in demand from consuming industries in the physical market.

Meanwhile, zinc for delivery in three month fell 4.8 per cent to USD 2,503 in London, the lowest since June 15 last year on the Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 11:50 IST