Zinc costs have been regular at Rs 191.05 per kg on August 7 as individuals elevated their brief positions.
Peru’s zinc output rose 313.6 % in June to 119,174 tonne at the same time as cumulative output fell 23.7 % within the first six months of 2020, Reuters’ reported.
Within the futures market, zinc for August supply touched an intraday excessive of Rs 191.90 and a low of Rs 189.55 per kg on the Multi-Commodity Change (MCX). Up to now within the present sequence, the valuable metallic has touched a low of Rs 161.80 and a excessive of Rs 192.20.
Zinc futures for August supply slipped Rs 0.35, or 0.18 %, to Rs 190.90 per kg at 18:54 hours on a enterprise turnover of two,971 tons. The identical for September contract was down Rs 0.40, or 0.21 %, to Rs 191.05 per kg on a turnover of 78 tons.
The worth of August and September contracts traded up to now is Rs 824.55 crore and Rs 8.20 crore, respectively.
“Zinc has shaped a number of resistance close to Rs 192.30 and failed to interrupt out. A breakdown under Rs 189.50 would drag costs decrease in the direction of Rs 188-187.50 ranges in intraday commerce,” Axis Securities mentioned.
At 13:29 (GMT), the bottom metallic futures have been down 0.22 % at $2,398.75 per tonne in London.
First Revealed on Aug 7, 2020 07:52 pm