Zinc futures down 0.70% on global cues
Zinc prices fell by 0.70% to Rs 91.80 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, owing to weak demand, also put pressure on zinc prices.
At the Multi Commodity Exchange, zinc for delivery in October declined by 65 paise, or 0.70%, to Rs 91.80 per kg, with a trading volume of 1,623 lots.
Similarly, the metal for November contract delivery shed 60 paise, or 0.64%, to Rs 92.85 per kg in 145 lots.
At the London Metal Exchange (LME), zinc was being quoted 0.60% lower at $1,870 per tonne in early trade today.
Analysts attributed the fall in zinc futures prices to a weakening trend in industrial metals on the LME and sluggish demand in the domestic spot market.