Zinc futures drop on profit booking, weak overseas trend

Zinc futures fell 0.73 per cent today as participants cut down bets and booked profits at current levels amid a weak trend in select base metals in the global market.
At the Multi Commodity Exchange, zinc for delivery in current month contracts was trading lower by Rs 1.35, or 0.73 per cent, to Rs 182.60 per kg, with a business turnover of 535 lots.
The metal for delivery in January next year fell Rs 1.20, or 0.65 per cent, to Rs 183.10 per kg in a turnover of four lots.
Traders said the fall in zinc prices in futures trade was mostly attributed to profit-booking after recent gains and a weak trend in base metals at the London Metal Exchange (LME).