Zinc drops in range-bound trade

PTI New Delhi | Updated on June 27, 2011

In range-bound trade, zinc futures fell by 0.54 per cent today as traders indulged in reducing their positions taking cues from weak global marketers amid subdued domestic demand.

At the Multi Commodity Exchange, zinc for delivery in July fell by 50 paise or 0.54 per cent to Rs 101 per kg, with a business turnover of 257 lots.

The metal for delivery in August also fell by the same margin to Rs 101.90 per kg with a trade turnover of six lots.

Analysts said a weakening trend in base metals at the London Metal Exchange and sluggish demand in the domestic market led to the fall in zinc futures prices.

At the LME, zinc declined by 0.60 per cent to $2,241 per tonne.

Published on June 27, 2011

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