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Zinc futures shed 1.37% on weak overseas trend

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Press Trust of India New Delhi

Zinc futures prices declined by Rs 1.40 or 1.37 per cent to Rs 101.10 per kg today, in tandem with weak trend in base metals at global markets.

At the Multi Commodity Exchange counter, zinc for delivery in December fell by Rs 1.40, or 1.37 per cent to Rs 101.10 per kg, with a business turnover of 2,234 lots.

Similarly, zinc for January delivery also shed Rs 1.40, or 1.35 per cent, to Rs 102.25 per kg, with a business turnover of 163 lots.

Market analysts said weak trend in base metals pack at the London Metal Exchange as firm dollar reduced appeal for raw materials as an alternative investment and subdued domestic demand, which led to a fall in zinc futures prices here.

 

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First Published: Dec 08 2010 | 3:37 PM IST

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