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Zinc down 0.35% on global cues, sluggish demand

A subdued trend in the spot market, owing to weak demand, also put pressure on zinc prices

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Press Trust of India New Delhi

Zinc futures prices today fell by 0.35% to Rs 101.05 per kg amid a weak trend in the base metal pack on the London Metal Exchange (LME).

A subdued trend in the spot market, owing to weak demand, also put pressure on zinc prices.

At the Multi Commodity Exchange, the October contract for zinc declined by 35 paise, or 0.35%, to Rs 101.05 per kg, with a trading volume of 2,085 lots.

The November contract shed 40 paise, or 0.29%, to Rs 102.25 per kg in 122 lots.

At the LME, zinc was being quoted 0.16% lower at $1,932 per tonne in early trade today.

Analysts attributed the fall in zinc futures prices to a weakening trend in industrial metals on the LME and sluggish demand in the domestic spot market.

 

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First Published: Oct 15 2012 | 1:38 PM IST

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