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Zinc futures fall over 2 per cent on profit-booking

Press Trust of India  |  New Delhi 

Zinc futures traded 2.02 per cent lower at Rs 184.55 per kg today as speculators trimmed positions to book profits even as the metal strengthened overseas.

Zinc for delivery in December declined by Rs 3.80, or 2.02 per cent, to Rs 184.55 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,116 lots.

Likewise, the metal for delivery in January softened by Rs 3.75, or 1.98 per cent, to Rs 185.20 per kg in 16 lots.

Analysts said the weakness in zinc at futures trade was mostly attributed to profit-booking at current levels, but metal's strength at the Metal Exchange (LME) amid signs that production will trail demand, capped the fall.

Globally, zinc for delivery in three months climbed 1 per cent to USD 2,728 per tonne on the LME. Prices climbed 9.8 per cent last month, the steepest advance since April 2015.

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

First Published: Fri, December 02 2016. 11:13 IST