NEW DELHI, July 6: Zinc prices moved down 0.97 per cent to Rs 127.20 per kg in futures market today as speculators reduced their positions, in tandem with a weak global trend.
In futures trading at Multi Commodity Exchange, zinc for delivery in July contracts dropped Rs 1.25, or 0.97 per cent, to Rs 127.20 per kg in business turnover of 479 lots.
Likewise, the metal for delivery in August traded lower by Rs 1.25, or 0.97 per cent, to Rs 128 per kg in business turnover of 18 lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) mainly influenced zinc prices in futures trade.
Meanwhile, an index of the six main metals on the LME has fallen more than 10 per cent this year as Greece’s potential exit from the euro and China’s cooling economy damped sentiment for global expansion and stoked speculation demand for industrial metals would slow. (PTI)
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