Zinc futures tumbled in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, a slowdown in the services sector in the Euro area in March signaled a cooling recovery in the 19-member economy, which may curb demand for the industrial metal. The gauge measuring services activity in the region fell to 53.1 in March from 53.3 in February, with a reading above 50 signaling expansion. At the MCX, Zinc futures for April 2016 contract closed at Rs 120.40 per kg, down by 1.67 per cent after opening at Rs 122.1, against the previous closing price of Rs 122.45. It touched the intra-day low of Rs 119.85.
Read More – Zinc updates
Read More – Zinc updates
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