Zinc down 0.9% on global cues

Metal prices fell 0.4% at the London Metal Exchange

Zinc futures prices today fell by 0.92% to Rs 123.90 per kg as participants reduced their positions largely in line with a weakening trend overseas and subdued domestic spot demand.

At the Multi Commodity Exchange, zinc for delivery in January traded lower by Rs 1.15, or 0.92%, to Rs 123.90 per kg, with a business turnover of 782 lots.

The metal for delivery in February fell by Rs 1.15, or 0.91% to Rs 124.85 per kg in a turnover of 182 lots.

Globally, zinc prices fell 0.40% to $2,004 per tonne at the London Metal Exchange.

Marketmen said the fall in zinc prices at futures trade was mostly in line with a weak overseas as investors awaited outcome of the Federal Reserve's meeting today and subdued demand at the spot markets.