Zinc slips in futures trade on weak global cues

October, November contracts shed more than 1% each on weakness in base metals on LME

Zinc prices moved down 1.21 per cent to Rs 113.90 per kg in futures market today largely in tandem with a weak global trend.

In futures trading at the Multi Commodity Exchange, zinc for delivery in October contracts shed Rs 1.40, or 1.21 per cent, to Rs 113.90 per kg, in a business turnover of 913 lots.

Likewise, the metal for delivery in November traded lower by Rs 1.30, or 1.11 per cent, to Rs 115.30 per kg in a business turnover of 60 lots.

Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) on China demand concerns post its weak economic data mainly put pressure on zinc prices in futures trade.