Zinc futures down 1.91% on weak overseas trend

Zinc futures declined by 1.91 per cent to Rs 105.50 per kg at the Multi Commodity Exchange today, in tandem with a weak trend on the London Metal Exchange.

At the Multi Commodity Exchange counter, zinc for November delivery fell by Rs 2.05, or 1.91 per cent, to Rs 105.50 per kg, with a business turnover of 39 lots.

Similarly, zinc for December delivery also slid by Rs 2.05, or 1.88 per cent, to Rs 106.85 per kg, with a business turnover of one lot.  

Analysts said a weak trend in the entire base metals pack at the London Metal Exchange and brisk profit-booking by speculators, led to the fall in zinc futures prices here.

Zinc dropped by 1.1 per cent to $2,362 a tonne on the London Metal Exchange today.