Zinc sheds 0.2% on subdued demand, profit-booking

Firm trends overseas on optimism over Japanese govt plans to boost economy cap losses

Zinc futures prices today fell 0.22 per cent to Rs 111.75 per kg after participants booked profits at prevailing levels amid subdued spot demand.

At the Multi Commodity Exchange, zinc for delivery in February traded lower by 25 paise, or 0.22 per cent, to Rs 111.75 per kg, with a business turnover of 20 lots.

January zinc shed 20 paise, or 0.18 per cent, to 110.75 per kg, with a business turnover of 461 lots.

Marketmen said besides weak spot demand, profit-booking by speculators, mainly weighed on the zinc futures prices but a firming trend in base metals in the global markets on optimism that plans by the Japanese government to spend 10.3 trillion yen ($116 billion) to boost the economy will increase demand, averted major fall.