Friday, November 18, 2016

Base Metal: Zinc down by 0.64% in market today

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

Moreover, Zinc prices were also influenced due to cut downward of positions by traders in the industrial metal amid fall in physical demand from alloy-makers at the domestic spot markets. 

At the MCX, zinc futures for Nov. 2016 contract is trading at Rs 169.75 per kg, downward by 0.64 %, after opening at Rs 170.45, against a last close of Rs 170.85. It touched the intra-day lower of Rs 169.70.