Zinc down by 0.2% on subdued spot demand
Speculators trimmed positions after demand eased in spot markets
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Zinc prices drifted by 0.23% to Rs 129.30 per kg in futures trade today as speculators trimmed positions after demand eased in spot markets.
Also, weak trend in other base metals in global markets influenced the sentiment.
At the Multi Commodity Exchange, zinc for delivery in January shed 25 paise, or 0.23%, to Rs 129.30 per kg in a business turnover of 373 lots.
The metal for delivery in February fell by a similar margin to trade at RS 129.70 per kg in 64 lots.
Analysts attributed the fall of zinc futures to sluggish demand in the spot markets and weak trend in base metals overseas as rising dollar dampened for commodities priced in the Greenback.
Also, weak trend in other base metals in global markets influenced the sentiment.
At the Multi Commodity Exchange, zinc for delivery in January shed 25 paise, or 0.23%, to Rs 129.30 per kg in a business turnover of 373 lots.
The metal for delivery in February fell by a similar margin to trade at RS 129.70 per kg in 64 lots.
Analysts attributed the fall of zinc futures to sluggish demand in the spot markets and weak trend in base metals overseas as rising dollar dampened for commodities priced in the Greenback.
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First Published: Jan 29 2015 | 11:40 AM IST