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Zinc prices dropped by Rs 3 to Rs 105.55 per kg at the futures trade today on emergence of selling amid weak global cues.
At the Multi Commodity Exchange counter, March contract dropped by Rs 3 or 2.76 per cent to Rs 105.55 per kg with a business volume of 14 lots. Likewise, the metal for delivery in April declined by Rs 2.90 or 2.64 per cent to Rs 106.75 per kg with an open interest of a single lot.
Market analysts said emergence of selling in tandem with a weak trend in the entire base metals in the global markets led to the drop in zinc futures prices. Sluggish demand in the spot market also influenced the trading sentiment, they added.
Meanwhile, zinc dropped 0.2 per cent to $2,365 a tonne on the London Metal Exchange.
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