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Zinc down 0.2% on global cues

Metal for delivery in September traded lower by 0.17%

Press Trust of India New Delhi
Zinc prices fell by 0.21% to Rs 145 per kg in futures trade today as speculators trimmed positions amid a weak global trend.

At the Multi Commodity exchange, zinc for delivery in August declined by 30 paise, or 0.21%, to Rs 145 per kg in a business turnover of 1,821 lots.

Similarly, the metal for delivery in September traded lower by 25 paise, or 0.17%, to Rs 145.50 per kg in 34 lots.

Market analysts said offloading of positions amidst weak global trend on speculation that the dollar's strength will slow demand for the metal and crease in stockpiles, mainly kept pressure on zinc prices at futures trade.
 
Meanwhile, zinc for delivery in three months retreated 0.8% to USD 2,364 per tonne at the London Metal Exchange.

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First Published: Aug 06 2014 | 12:24 PM IST

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