Agri Business

Zinc futures fall on subdued demand

PTI New Delhi | Updated on January 05, 2011 Published on January 05, 2011

Zinc futures prices drifted by 0.76 per cent to Rs 111.55 a kg on Wednesday as traders indulged in offloading their positions, driven by weakening trend at the London Metal Exchange (LME), amid profit booking by speculators.

At the Multi Commodity Exchange counter, zinc for delivery in February fell by 85 paise or 0.76 per cent to Rs 111.55 a kg, with a business turnover of 15 lots.

The metal for delivery in January shed 80 paise or 0.72 per cent to Rs 110.40 a kg with a business turnover of eight lots.

Market analysts said a weak trend in zinc and other base metals at the LME as the recent rally in raw materials deterred purchases and subdued domestic demand, led to the fall in zinc futures prices here.

Globally, zinc tumbled as much as 2.7 per cent to $2,402.25 a tonne at the LME.

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Published on January 05, 2011
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