Zinc prices
declined by 0.53 per cent to 178.45 per kg in futures market today as
speculators cut down positions, taking negative cues from spot market on tepid
demand from consuming industries. At the Multi Commodity Exchange, zinc for
delivery in July slipped by 95 paisa, or 0.53 per cent, to Rs 178.45 per kg in
a business turnover of 2,164 lots. Likewise, the metal for delivery in August
was trading lower by a similar margin at Rs 178.65 per kg in 292 lots. Market
analysts attributed the weakness in zinc futures to offloading of positions by
participants amid sluggish demand from consuming industries in the physical
market.
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