Zinc futures down on global cues

PTI New Delhi | Updated on June 23, 2011

Zinc prices moved down by 0.74 per cent at the futures trade today, largely in tandem with a weakening trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, zinc for delivery in July fell by 75 paise or 0.74 per cent to Rs 100.30 per kg with a business turnover of 58 lots. Similarly, June contract also eased by 65 paise to Rs 99.25 per kg with a trading volume of 680 lots.

Analysts attributed the fall in zinc futures to a weak trend in base metals at the LME, after the Federal Reserve lowered its growth forecast for the US, raising concerns over demand.

Published on June 23, 2011

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