Zinc down by 0.3% on global cues

Zinc futures prices today fell 0.26% to Rs 117 per kg as speculators trimmed positions amid sluggish domestic demand and weak global trend.

 

At the Multi Commodity Exchange, zinc prices for delivery in October declined by 30 paise, or 0.26%, to Rs 117 per kg in business turnover of 45 lots.

 

Likewise, the metal prices for delivery in September traded lower by 15 paise, or 0.13%, to Rs 115.15 per kg in 543 lots.

 

Market analysts said besides sluggish domestic demand in the spot market, weak trend in base metals overseas after fall in Chinese imports suggested demand by the largest consumer may be weaker than estimated, mainly weighed on zinc futures here.