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Zinc down 0.3% on profit-booking

Marketmen said besides profit-booking, weakness in copper and other base metals at the LME influenced zinc prices

Press Trust of India New Delhi
Amid profit-booking by speculators and weak trend overseas, zinc futures prices today edged lower by 0.38% to Rs 126.60 per kg.

At the Multi Commodity Exchange, zinc for delivery in July shed 45 paise, or 0.38%, to Rs 126.60 per kg, with a business turnover of 8 lots.

The metal for delivery in June fell by a similar margin to Rs 126.05 per kg in a turnover of 431 lots.

Marketmen said besides profit-booking, weakness in copper and other base metals at the London Metal Exchange amid concern that a metal-warehousing probe at the Chinese port of Qingdao will curb use of the metal in obtaining credit in China, the biggest user of the metals, weighed on zinc futures here.

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First Published: Jun 10 2014 | 11:58 AM IST

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