Amid a weak tendency in the global markets and weak domestic demand, zinc futures prices today declined 0.62% to 121.10 rupees per kg as participants dramatically reduced their positions.
At MCX, zinc for December delivery was trading lower by 75 paise, or 0.62%, to 121.10 rupees per kg, with a turnover of of 549 lots.
The metal for delivery in January fell by 70 paise, or 0.57%, at 121.90 rupees per kg in a turnover of 70 lots.
Marketmen said the decline in zinc prices in futures trade was largely due to the weak spot and a weak trend in metals overseas demand as record production in China spurred concerns of oversupply and speculation on the timing of the cuts of stimulating the U.S. Fed.
Reported PTI News: India Times