 "Zinc lower by 2.2% on weak overseas cues")
Zinc futures were marginally down by 2.25% to Rs 126.10 per kg today after speculators reduced their exposures, taking weak cues from overseas markets.
At the Multi Commodity Exchange, zinc for delivery this month traded lower by Rs 2.90, or 2.25% to Rs 126.10 per kg in business turnover of 585 lots.
Similarly, the metal for delivery in February shed Rs 2.80, or 2.16% to Rs 127 per kg in 13 lots.
Market analysts said besides subdued demand from consuming industries in the spot market, weakness in copper and other base metals at the London Metal Exchange as slowing global growth dims the outlook for commodities kept pressure on zinc prices at futures trade.
At the Multi Commodity Exchange, zinc for delivery this month traded lower by Rs 2.90, or 2.25% to Rs 126.10 per kg in business turnover of 585 lots.
Similarly, the metal for delivery in February shed Rs 2.80, or 2.16% to Rs 127 per kg in 13 lots.
Market analysts said besides subdued demand from consuming industries in the spot market, weakness in copper and other base metals at the London Metal Exchange as slowing global growth dims the outlook for commodities kept pressure on zinc prices at futures trade.