Zinc feels Chinese heat; down 0.64%

Zinc feels Chinese heat; down 0.64%

18/11/2016 11:03

Zinc futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal as speculators in China took their foot off the pedal and the stronger dollar deterred investors from buying commodities.

Further, Zinc prices were also influenced due to cut down of positions by traders in the industrial metal amid slide in physical demand from alloy-makers at the domestic spot markets. At the MCX, zinc futures for November 2016 contract is trading at Rs 169.75 per kg, down by 0.64 per cent, after opening at Rs 170.45, against a previous close of Rs 170.85. It touched the intra-day low of Rs 169.70 (at 10:47 hours).

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