Zinc weakens marginally on global cues

September contract down 0.08%

Zinc futures traded a shade lower by 0.08% to Rs 111.70 per kg today as speculators reduced positions, taking negative cues from overseas markets.

At the Multi Commodity Exchange, zinc for delivery in September traded lower by 25 paise, or 0.08%, to Rs 111.70 per kg, with a business turnover of 1,274 lots.

October zinc weakened by 10 paise, or 0.07%, to Rs 112.70 per kg, with a business turnover of 58 lots.

Marketmen attributed the weakness in zinc futures to a lower global trend amid concerns that stimulus measures would not be enough to bolster growth, curbing demand prospects.