Zinc futures recovered in futures trade on Monday after an early fall, as traders engaged in bargain buying at lower levels despite weakness in the global base metal markets.
Zinc Futures Recover To ₹325.8/kg After Early Slide
On the Multi Commodity Exchange, zinc futures for February contract opened lower in the morning trade
Zinc Futures Recover To ₹325.8/kg After Early Slide
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On the Multi Commodity Exchange, zinc futures for February contract opened lower in the morning trade and fell by ₹7.55, or 2.4%, to hit an intraday low of ₹312 per kilogram.
However, the metal later staged a smart recovery and rose ₹6.25, or 1.96%, to ₹325.80 per kg.
Market participants said the recovery was driven by buying interest at lower prices, even as sentiment remained cautious in the overseas markets. Globally, zinc on the London Metals Exchange (LME) fell by $91.98, or 2.71%, to $3,301.65 per 25 metric tonne.