Zinc slips in futures trade on weak global trend

Zinc prices moved down 0.38 per cent to Rs 103.95 per kg in futures market today as speculators cut down their bets, tracking a weak trend in base metals overseas.
In futures trading at Multi Commodity Exchange, zinc for delivery in current month dropped 40 paise, or 0.38 per cent, to Rs 103.95 per kg, in a business turnover of 148 lots.
Metal for delivery in February also fell by a similar margin to trade at Rs 104.90 per kg, in a business turnover of two lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) amid continued speculation that China's economic slowdown and financial market volatility will roil metals market, mainly weighed on zinc prices in futures trade.

Globally, zinc on the London Metal Exchange fell as much as 1.6 per cent to USD 1,548 a metric tonne.