Zinc down by 0.3% on global trend
Participants reduced positions even as metal strengthened at the London Metal Exchange (LME)
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Zinc futures declined 0.31% to Rs 129.85 per kg today as participants reduced positions even as metal strengthened at the London Metal Exchange (LME).
At the Multi Commodity Exchange, zinc for delivery in January traded lower by 40 paise, or 0.31%, to Rs 129.85 per kg, with a business turnover of 187 lots.
Metal for delivery in February fell by a similar margin to trade at Rs 130.25 per kg in a turnover of four lots.
Marketmen said the fall in zinc prices at futures trade was mostly due to trimming of positions by speculators despite metal rising at the LME before data showing increased housing construction in the US and a stimulus decision by the ECB.
Globally, zinc for delivery in three months rose 0.2% to $2,105 a metric tonne at the LME.
At the Multi Commodity Exchange, zinc for delivery in January traded lower by 40 paise, or 0.31%, to Rs 129.85 per kg, with a business turnover of 187 lots.
Metal for delivery in February fell by a similar margin to trade at Rs 130.25 per kg in a turnover of four lots.
Marketmen said the fall in zinc prices at futures trade was mostly due to trimming of positions by speculators despite metal rising at the LME before data showing increased housing construction in the US and a stimulus decision by the ECB.
Globally, zinc for delivery in three months rose 0.2% to $2,105 a metric tonne at the LME.
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First Published: Jan 21 2015 | 11:10 AM IST