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Zinc weakens in futures trade on profit-taking

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:04 AM IST

Zinc prices fell by Rs 0.20, or 0.22 per cent, to Rs 90.10 per kg in futures trade today, as speculators reduced their positions at prevailing levels.  

Approaching monthly expiry and sluggish demand at spot markets also put pressure on the zinc prices in futures trade.

At the Multi Commodity Exchange platform, zinc for delivery in July fell by Rs 0.20, or 0.22 per cent, to Rs 90.10 per kg, with a turnover of 334 lots.

The metal for delivery in August contract also moved down Rs 0.10, or 0.11 per cent, to Rs 91.40 per kg, with a business volume of 35 lots.

Market analysts attributed the weakness in zinc at futures market to sluggish spot demand and slight weakness in base metals at the London Metal Exchange and Shanghai.

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First Published: Jul 27 2010 | 2:04 PM IST

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