Base Metals & Energy
D A I L Y B U Z Z
ZINC
Zinc futures fell 0.17 per cent to Rs 143.35 per kg today as speculators reduced positions amidst sluggish domestic demand and weak global trend.
At the Multi Commodity Exchange, zinc prices for delivery in next month declined by 25 paise, or 0.17 per cent, to Rs 143.35 per kg in a business turnover of 27 lots.
Likewise, the metal for delivery in the current month traded lower by 20 paise, or 0.14 per cent, to Rs 142.70 per kg in 442 lots.
Market analysts said the fall in zinc prices in futures trade was due to sluggish domestic demand in the spot market amidst a weak trend in base metals at the London Metal Exchange after official gauge of China's industrial activity dropped for the first time in six months.
Agro Outlook
D A I L Y B U Z Z
CASTOR SEED
Castorseed prices fell by 3.14 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil. At the NCDEX, castor seed futures for September 2014 contract was trading at Rs. 4,067 per quintal tonnes, down by 3.14 per cent, after opening at Rs. 4,172 against the previous closing price of Rs. 4,199. It touched the intra-day low of Rs. 4,055 till the trading.
