Zinc extend losses in futures trade on global trend

Zinc futures fell by 0.40% to Rs 99.10 per kg today, largely in tandem with a weakening trend in base metals overseas.

At the Multi Commodity Exchange, January  zinc shed 40 paise, or 0.40%, to Rs 99.10 per kg, with a trade turnover of 922 lots.

The February delivery also traded 35 paise, or 0.35% lower, at Rs 100.10 per kg in a turnover of 20 lots.

At the London Metal Exchange, zinc declined 1.3% to $1,906 per tonne.

Analysts attributed the fall in zinc futures prices to a weak trend in base metals overseas, as Fitch Ratings' warning that it may downgrade Italy's credit rating raised concern over Europe's economic growth, eroding demand prospects for industrial metals.