Published on 21/04/2017 5:10:08 PM | Source: Dion Global Solutions Ltd

Zinc futures plunge 1.15% on global cues

Posted in Top Stories| #Zinc #MCX #Commodity

Zinc futures fell over 1 per cent during evening trade in the domestic market on Friday as investors, speculators exited their positions in the industrial metal on diminishing demand amid firmer greenback.

Moreover, concerns that China's base metals demand could temper in the coming quarter as Beijing acts on runaway property prices, too dampened the down move in zinc prices.

At the MCX, zinc futures for April 2017 contract is trading at Rs 167.95 per kg, down by 1.15 per cent, after opening at Rs 170.05, against a previous close of Rs 169.90. It touched the intra-day low of Rs 167.60 (at 16:16 hours).