Zinc down by 0.8% on overseas cues; profit-booking

Zinc prices fell by 0.85% to Rs 117.25 per kg in futures trade today after speculators reduced their exposure, tracking a weak trend overseas.

Besides, profit-booking by speculators too kept pressure.

At the Multi Commodity Exchange, zinc for delivery in current month eased by Re 1, or 0.85%, to Rs 117.25 per kg in a business turnover of 1,389 lots.

Likewise, the metal for delivery in November fell 95 paise, or 0.80%, to Rs 118.40 per kg in 56 lots.

Market analysts said zinc prices fell due to a weak trend in base metals in global markets after data showed Chinese imports fell for the 11th month, the longest losing streak in six years, fueling worries about health of Asia's largest economy.
 
Globally, zinc retreated by 1.6% at the London Metal Exchange.