Zinc down 0.15% on weak global trend

Zinc fell by 0.15% to Rs 101.15 per kg today as speculators reduced their positions in tandem with weakness in base metals in global markets.

At the Multi Commodity Exchange, the March contract shed 15 paise, or 0.15%, to Rs 101.15 per kg, with a trade turnover of 315 lots.

The March contract fell by similar margin to Rs 102.25 per kg in a turnover of 53 lots.

Meanwhile, at the London Metal Exchange, zinc fell 0.3% to $2,073 per tonne.

Analysts attributed the fall in zinc futures prices to a weak trend in base metals overseas on concerns that demand will decline after the International Monetary Fund warned of a global slowdown in the economic growth.