Zinc futures plunged by more than 1 per cent during
noon trade as investors and speculators exit positions in the industrial
metal amid soft physical demand for zinc in the domestic spot market.
Further, worries that slowing economic growth in China, the world’s
biggest metals consumer, may curb demand overshadowed robust US economic
data as consumer spending rose for fourth straight month, up by 0.3
per cent in July from June.
At the MCX, zinc futures for August 2016 contract is trading at Rs
154.35 per kg, down by 1.09 per cent, after opening at Rs 155.2, against
a previous close of Rs 156.05. It touched the intra-day low of Rs
153.9.
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