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Zinc futures shed 0.97% on low demand, weak global cues

Press Trust of India  |  New Delhi 

Zinc prices moved down by 0.97 per cent to Rs 184.55 per kg in futures trading today as traders cut down bets, tracking a weak trend at domestic spot markets due to fall in demand from consuming industries.

Moreover, weakness in the industrial metals at the Metal Exchange (LME)on signs that is taking steps to curb speculation and ending November month series, kept pressure on the metal prices.

In futures trading at the Multi Commodity Exchange, zinc for delivery in December month fell by Rs 1.80, or 0.97 per cent to Rs 184.55 per kg in business turnover of 199 lots.

Similarly, the metal for delivery this month contracts traded lower by Rs 1.70, or 0.91 per cent to Rs 184.30 per kg in 322 lots.

Analysts said apart from winding up of positions by speculators in view of ending November series, low demand at the domestic spot markets and a weak trend at the LME, weighed on zinc prices at futures trade.

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

First Published: Wed, November 30 2016. 11:13 IST