CO:Zinc futures witnessed gain in international market
AHMEDABAD (Commodity Online): Strength in the US Dollar coupled with mixed sentiments in international markets which led the base metals pack to trade lower on the LME and also on MCX in yesterday’s trading session.
On Tuesday, Industrial metals traded higher following depreciation in Indian Rupees on the domestic bourses on Tuesday.
Zinc was the only metal to witnessed gains on the MCX on Tuesday mainly due to sharp fall in the metal inventories on the LME warehouse. Zinc September contract closed at 101.15 rupees per kilogram.
On a weekly basis, Zinc inventories declined more than 1 percent compared to last week which help Zinc prices to trade at higher note. On the MCX, Zinc September contract rallied 0.34 percent and touched an intra-day high of 102 rupees per Kilogram.
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