Zinc prices moved lower in futures trade on Monday, reflecting weak global trends and muted demand from consuming industries in the domestic spot market.
February Zinc Contract Dips on MCX
On the Multi Commodity Exchange, zinc futures for February delivery declined by 60 paise, or 0.19 percent, to ₹323 per kilogram. The contract recorded a business turnover of 1,755 lots during the session.The softness in prices signals cautious buying activity among participants, with domestic industries showing limited interest in fresh purchases.
March Contract Extends Losses
The March zinc contract also witnessed selling pressure. It fell by ₹1.20, or 0.37 percent, to ₹326 per kg. The contract saw a trading volume of 2,908 lots.Market participants attributed the continued decline to a lack of strong demand momentum in the physical market.
Global Zinc Prices Weaken on LME
International trends further weighed on domestic prices. On the London Metal Exchange, zinc futures dropped by USD 23.15, or 0.69 percent, to USD 3,324.20 per 25 metric tonne.The decline in global benchmarks, combined with subdued spot demand, kept zinc futures under pressure in the domestic market on Monday.
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