Business Standard

Zinc weakens by 0.10% in futures trade

Image

Press Trust of India New Delhi

Zinc futures shed 0.10 per cent to Rs 102.70 per kg today, as speculators reduced their positions, driven by a weak trend overseas.

At the Multi Commodity Exchange counter, zinc for October delivery lost 10 paise, or 0.10 per cent, to Rs 102.70 per kg, with a turnover of 16 lots.

Zinc futures for November delivery also slipped by five paise, or 0.05 per cent, to Rs 103.75 per kg, with a turnover of six lots.

Meanwhile, at the London Metal Exchange, zinc dropped by 0.30 per cent to $2,324 per tonne.

Analysts said weak trend in the entire base metals on the prospect of further credit tightening in China, the world's largest user of metal, which may adversely affect demand, weighed on the zinc futures here.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 12 2010 | 4:01 PM IST

Explore News