Zinc futures fall 0.6% on weak global cues

Slack in demand in local market also pulls zinc prices down

Zinc prices fell 0.57% to Rs 104.35 per kg in futures trading today on slack demand and weak global trend.

At the MCX, zinc for delivery in April traded lower by 60 paise, or 0.57%, to Rs 104.35 per kg in business turnover of 411 lots.

The May contract was lower by 55 paise, or 0.52%, at Rs 105.50 per kg, clocking a business volume of 46 lots.

Market analysts said a slack in demand from consuming industries and weak trend in overseas markets mainly led to a fall in zinc prices at futures trade.

Zinc prices were slated to decline today tracking movement of the London Metal Exchange, where base metal prices declined on lower-than-expected economic data from the Eurozone region, released today.

Three-month zinc prices fell 0.9% to $2,008 a tonne on the London Metal Exchange today.