Zinc falls by 0.4% on weak global cues
Speculators reduced positions amid weak global trend and ending monthly settlement
 "Zinc falls by 0.4% on weak global cues")
Zinc futures shed 0.38% to Rs 118.10 per kg today as speculators reduced positions amid weak global trend and ending monthly settlement.
At the Multi Commodity Exchange, zinc prices for delivery in current month declined 45 paise, or 0.38% to Rs 118.10 per kg, in a business turnover of 269 lots.
Likewise, the metal for delivery in April fell by a similar margin to trade at Rs 118.55 per kg in 166 lots.
Analysts said apart from slackened domestic demand at the spot market, a weak trend in base metals at the London Metal Exchange led to a fall in zinc futures prices.
Squaring-up of positions in view of ending monthly settlement weighed on prices, they said.
At the Multi Commodity Exchange, zinc prices for delivery in current month declined 45 paise, or 0.38% to Rs 118.10 per kg, in a business turnover of 269 lots.
Read more from our special coverage on "ZINC PRICES"
Likewise, the metal for delivery in April fell by a similar margin to trade at Rs 118.55 per kg in 166 lots.
Analysts said apart from slackened domestic demand at the spot market, a weak trend in base metals at the London Metal Exchange led to a fall in zinc futures prices.
Squaring-up of positions in view of ending monthly settlement weighed on prices, they said.
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First Published: Mar 31 2016 | 12:22 PM IST