Zinc futures fell by 0.09 per cent to Rs 114.80 per kg today as speculators reduced positions in the midst of a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for August 2015 contract, at MCX, were trading at Rs 114.80 per kg, down by 0.09 per cent after opening at Rs. 114.60 against the previous closing price of Rs. 114.90. It touched the intra-day low of Rs. 113.35 till the trading. (At 4.15 PM today).
Sentiment weakened further due to the surge in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks rose by 2800 metric tonnes to 525550 metric tonnes as on August 25, 2015.
Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.