Zinc futures in reverse gear on diminishing demand

16/02/2017 17:04

Zinc futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal amid fall in physical demand for zinc at the domestic spot market.

Further, a drop in physical demand for zinc at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced zinc prices at futures trade.

At the MCX, zinc futures for February 2017 contract is trading at Rs 190.90 per kg, down by 0.31 per cent, after opening at Rs 193, against a previous close of Rs 191.50. It touched the intra-day low of Rs 190.40 (at 16:59 hours).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s