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Zinc marginally down on weak spot demand

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Press Trust of India New Delhi

Zinc softened by 0.29% to Rs 102.25 per kg in futures trading today after speculators trimmed their positions amid a weak trend overseas.

At the Multi Commodity Exchange, the April contract fell by 30 paise, or 0.29%, to Rs 102.25 per kg in business turnover of 650 lots.

The May contract traded lower by 25 paise, or 0.24%, to Rs 103.20 per kg in 14 lots.

Globally, zinc  fell 0.7% to $2,008 per tonne at the London Metal Exchange (LME).

Analysts said weakness in the entire base metals pack at the LME and sluggish demand in the domestic spot markets mainly kept pressure on the zinc futures.

 

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First Published: Apr 04 2012 | 12:13 PM IST

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