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Zinc futures fall due to profit-taking

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Press Trust of India New Delhi

Zinc prices fell by Rs 0.20, or 0.23 per cent, to Rs 85.80 per kg in futures trade today due to profit-booking by traders.

Sluggish demand at spot markets also weighed on the zinc futures prices.

At the Multi Commodity Exchange platform, zinc for July contract fell by Rs 0.20, or 0.23 per cent, to Rs 85.80 per kg, with a turnover of 5,648 lots.

The metal for delivery in August contract also moved down by Rs 0.15, or 0.17 per cent, to Rs 86.85 per kg, with a business volume of 484 lots.

Market analysts attributed the weakness in zinc at futures market to sluggish spot demand, apart from profit- booking by speculators.

 

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First Published: Jul 07 2010 | 2:24 PM IST

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