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Zinc futures succumb to profit-booking, weak global cues

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Press Trust of India New Delhi

Zinc futures traded 0.73% lower at Rs 94.95 per kg amid profit-booking by speculators and weak trend overseas.  

At the Multi Commodity Exchange, zinc for delivery in May fell by 70 paise, or 0.73% to Rs 94.95 per kg, with a business turnover of 936 lots.

The metal for June delivery also shed 70 paise, or 0.72% to Rs 96.30 per kg, with a business volume of 57 lots. 

At the London Metal Exchange (LME), zinc declined 1.4% to $2,130 a tonne.

Analysts attributed the fall in zinc futures to a weak trend in the entire base metals at the LME and profit-booking by speculators.

 

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First Published: May 12 2011 | 4:39 PM IST

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