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Zinc futures remain weak on global cues

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Press Trust of India New Delhi
Zinc prices fell by 0.62 per cent to Rs 175 per kg in futures trade today as participants engaged in reducing their positions, triggered by a weak trend overseas amid easing demand from consuming industries at the domestic spot market.

At the Multi Commodity Exchange, zinc for delivery in January month declined by Rs 1.10, or 0.62 per cent, to Rs 175 per kg in business turnover of 34 lots.

In a similar fashion, the metal for delivery in December month contracts traded lower by Rs 1.05, or 0.60 per cent, to Rs 174.70 per kg in 430 lots.

Analysts said offloading of positions by traders, driven by a weak trend trend overseas and a fall in demand from consuming in the spot market, kept zinc prices down at futures trade.
 

Globally, zinc for delivery in three month fell 0.5 per cent at the London Metal Exchange.

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First Published: Dec 20 2016 | 10:57 AM IST

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