Zinc futures fall 0.44%; hurt by muted demand, overseas cues

Zinc futures fell 0.44 per cent to Rs 114.40 per kg today as speculators reduced positions amid sluggish domestic demand and weak global trend.
At the Multi Commodity Exchange, zinc prices for delivery in August declined 50 paise, or 0.44 per cent, to Rs 114.40 per kg in a business turnover of 325 lots.
Likewise, the metal for delivery in September traded lower by 45 paise, or 0.43 per cent, to Rs 115.45 per kg in 30 lots.
Analysts said the fall was due to slack domestic demand in the spot market amid a weak trend in base metals at the London Metal Exchange as China's stimulus measures failed to convince investors that they're enough to resuscitate underlying demand in the world's biggest buyer of commodities.

Meanwhile, China cut interest rates for the fifth time since November to help bolster the country's slowing economy and plunging stock market.