Zinc futures fall on profit booking

NEW DELHI: Amid profit booking by speculators, zinc futures prices fell by 0.18 per cent today even as metal strengthened at the London Metal Exchange ( LME).

At the Multi Commodity Exchange, zinc for delivery in February declined by 20 paise, or 0.18 per cent, to Rs 112.40 per kg, with a business turnover of nine lots.

Likewise, the metal for delivery in March traded lower by 20 paise, or 0.18 per cent, to Rs 113.45 per kg, with a business volume of six lots.

Market analysts said profit booking by speculators and weak trend at the spot market on sluggish demand mainly put pressure on the zinc futures prices but gains at the London Metal Exchange, capped the losses.

Meanwhile, zinc gained 0.2 per cent, to USD 2,469 a tonne on the London Metal Exchange.