Zinc futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, the International Monetary Fund (IMF) predicted weak pace of recovery in the European economy, dimming the demand outlook for industrial metals. A dip in German factory orders in May signaled that Europe’s biggest economy was losing momentum.
At the MCX, Zinc futures for July 2014 contract is trading at Rs. 132.80 per 1 kg, down by 0.52 per cent, after opening at Rs. 133.05, against the previous closing price of Rs. 133.50. It touched an intra-day low of Rs. 132.70.
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