Premium
This is an archive article published on April 13, 2010

Zinc futures down 1.13% on profit taking

Zinc futures prices drifted by Rs 1.20,or 1.13 per cent to Rs 105.30 per kg.

Zinc futures prices drifted by Rs 1.20,or 1.13 per cent to Rs 105.30 per kg today following profit-booking by speculators and weak trend at the London Metal Exchange.

At the Multi Commodity Exchange counter,zinc for April contract shed Rs 1.20,or 1.13 per cent to Rs 105.30 per kg,with a turnover of 2,135 lots.

Similarly,the metal for delivery in May also traded lower by Rs 1.20,or 1.12 per cent,to Rs 106 per kg,in a turnover of 167 lots.

Story continues below this ad

Analysts said,profit-taking by speculators at higher levels at the LME and Shanghai,mainly led to a decline in zinc’s prices at futures market.

Meanwhile,at the LME,zinc fell by USD 35 or 1.44 per cent to USD 2,390 per tonne,while at Shanghai,the metal traded 190 yuan,or 0.98 per cent down at 19,125 yuan per tonne.

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement