As a result of the decline in the trend in the base metals pack in the overseas markets, the prices of zinc for the February contract fell by 55 paise, or 0.52 per cent to Rs 104.60 per kg, with a business turnover of three lots at the Multi Commodity Exchange (MCX).
The zinc for the January contract also fell by 20 paise, or 0.19 per cent, to Rs 103.60 per kg, with a business turnover of 134 lots at the MCX.
The metal for the December contract also shed 15 paise, or 0.15 per cent to Rs 102.45 per kg, in a turnover of 1,960 lots at the MCX.
Moreover, there was a decline in the trend in the base metals pack at the London Metal Exchange since the steady greenback lessened the appeal for the raw materials as an alternative investment and the decline in the local demand also influenced the prices of the metal.
Zinc, also known as spelter, is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table.
Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2. Zinc is the 24th most abundant element in the Earth's crust and has five stable isotopes.