Zinc falls by 0.5% on weak global trend
Speculators reduced their positions, in tandem with a weak global trend
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Zinc prices moved down 0.53% to Rs 121.40 per kg in futures market today as speculators reduced their positions, in tandem with a weak global trend.
In futures trading at Multi Commodity Exchange, zinc for delivery in current month contracts dropped 65 paise, or 0.53%, to Rs 121.40 per kg in business turnover of 2,017 lots.
Likewise, the metal for delivery in September traded lower by 60 paise, or 0.49%, to Rs 122.10 per kg in business turnover of 22 lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) after Chinese manufacturing weakened in July, hurting demand in the biggest metals user, mainly weighed on zinc prices in futures trade.
In futures trading at Multi Commodity Exchange, zinc for delivery in current month contracts dropped 65 paise, or 0.53%, to Rs 121.40 per kg in business turnover of 2,017 lots.
Likewise, the metal for delivery in September traded lower by 60 paise, or 0.49%, to Rs 122.10 per kg in business turnover of 22 lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) after Chinese manufacturing weakened in July, hurting demand in the biggest metals user, mainly weighed on zinc prices in futures trade.
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First Published: Aug 04 2015 | 11:22 AM IST