Zinc down 0.8% on global cues
Zinc prices fell by 0.82% to Rs 96.90 per kg in futures trade today amid a weak trend in base metals on the London Metal Exchange (LME).
A subdued trend in the spot market, due to weak demand, also weighed on zinc prices.
At the Multi Commodity Exchange, December zinc declined by 80 paise, or 0.82%, to Rs 96.90 per kg, with a trading volume of 29 lots.
The November contract shed 75 paise, or 0.78%, to Rs 95.95 per kg, with a business turnover of 720 lots.
At the LME, zinc was being quoted 2.4% lower at $1,953 per tonne in early trade today.
Analysts attributed the fall in zinc futures prices to a weakening trend in industrial metals on the LME on renewed eurozone worries and sluggish demand in the domestic spot market.