Zinc down by 1.4% on overseas trend

Fall in zinc prices at futures trade was mostly in tandem with a weak trend in the entire base metals at the LME

Tracking a weak trend in base metals in the global market and subdued spot demand, zinc futures prices today fell by 1.43% as participants reduced exposures.

 

At the Multi Commodity Exchange, zinc for delivery in September traded lower by Rs 1.80, or 1.43%, to Rs 124.50 per kg, with a business turnover of 264 lots.

 

The metal for delivery in August fell by Rs 1.65, or 1.32% to Rs 123.15 per kg in a turnover of 2,074 lots.

 

Marketmen said the fall in zinc prices at futures trade was mostly in tandem with a weak trend in the entire base metals at the London Metal Exchange on concern any tapering of stimulus in the US curbs demand of industrial metals.