Zinc futures take global cues, decline 0.69%

Zinc prices were down by 0.69 per cent to Rs 129 per kg in futures trade today as speculators reduced their exposure, tracking a weak global trend.
At Multi Commodity Exchange, zinc prices for delivery in July shed 90 paise, or 0.69 per cent, to Rs 129 per kg in a business turnover of 696 lots.
Likewise, the metal for delivery in June contracts traded lower by 80 paise, or 0.62 per cent, to Rs 128.55 per kg in 7,556 lots.
Market analysts said offloading of positions by speculators, taking weak cues from global market on signs of ample supplies amid the Greek debt impasse, mainly weighed on zinc prices.

Meanwhile, zinc for delivery in three months fell 0.6 per cent to USD 2,023 a metric tonne on the London Metal Exchange.