Business Standard

Zinc futures fall on weak global cues

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Press Trust of India New Delhi

Tracking weak global market and subdued domestic demand, zinc futures prices fell by 1.10 per cent to Rs 112.60 per kg today. 

At the Multi Commodity Exchange, zinc for delivery in April declined by Rs 1.25, or 1.10 per cent, to Rs 112.60 per kg, with a business turnover of four lots.

Likewise, the metal for delivery in February traded lower by Rs 1.20, or 0.72 per cent, to Rs 110.40 per kg, with a business volume of 15 lots.  

Market analysts said offloading by traders, triggered by a weak trend at the London Metal Exchange on concern that rising geo-political tensions may slowdown the global economic recovery, weighed on the zinc prices at futures trade here. 

 

Meanwhile, zinc fell by 1 per cent, to $2,464 a tonne on the London Metal Exchange.

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First Published: Feb 23 2011 | 2:19 PM IST

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