Base metals futures such as Zinc and Lead have traded in the negative zone at the MCX today as traders preferred to take short position eyeing slowing demand for base metals form consuming industry following global economic recession.
MCX Zinc May contract declined 0.88% at Rs 67.90 per kg as against its previous closing at Rs 68.50. It opened at Rs 68.25 and touched a low of Rs 67.40. (2.13 p.m., Thursday).
Zinc June contract opened at Rs 69.65 per kg as against its previous closing at Rs 69.50. It touched the lowest level of Rs 68.25 and last traded price for the same was Rs 68.65, down 1.22%. Zinc July contract shed 1.43%, at Rs 69.15 a kg. It opened at Rs 70.15 per kg and touched the lowest level of Rs 69.10.
Similarly, Lead June contract traded marginally lower at Rs 68.80 per kg as against its previous close of Rs 68.90 per kg. It tossed in the range of Rs 69.10-68.30 after opening at Rs 69.05. The open interest of the same was 1,446. Lead July contract slipped by 1.07% to Rs 69.30 per kg. It opened at Rs 69.75 as compared to its earlier close of Rs 70.05.
Source: http://www.myiris.com/
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