Zinc futures soften 0.97 on global cues

Zinc futures traded 0.97 per cent lower at Rs 128.25 per kg today as speculators trimmed positions, tracking a weak global trend.
Zinc for delivery in June declined by Rs 1.25, or 0.97 per cent, to Rs 128.25 per kg at the Multi Commodity Exchange. It clocked a business turnover of 1,502 lots.
Likewise, the metal for delivery in July softened by Rs 1.25, or 0.96 per cent, to Rs 128.90 per kg in eight lots.
Analysts said the weakness in zinc at futures trade was mostly attributed to a weak trend in the base metals pack in the global markets amid concerns over lacklustre manufacturing growth in the second-largest economy China.

Globally, zinc three-month delivery was down as much as 0.9 per cent at the London Metal Exchange (LME).