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Zinc futures marginally down on weak global cues

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Press Trust of India New Delhi

Taking negative cues from global markets, zinc prices traded marginally lower by 0.26 per cent to Rs 113.40 per kg in futures trade today.

Subdued demand in the spot market also put pressure on the zinc futures prices here.

 At the Multi Commodity Exchange, zinc for delivery in March traded lower by 30 paise, or 0.26 per cent, to Rs 113.40 per kg, with a business volume of 42 lots.    

Likewise, the metal for delivery in April softened by 25 paise, or 0.22 per cent, to Rs 114.50 per kg, with a business turnover of 11 lots.

Market analysts said weakening trend in the entire base metals pack and sluggish demand at the domestic market mainly led to the fall in zinc futures prices here.

 

Meanwhile, zinc dropped 0.5 per cent to $2,508 a tonne on the London Metal Exchange.

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First Published: Mar 01 2011 | 2:05 PM IST

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