Zinc futures fall 0.18% on weak global cues

Taking weak cues from overseas markets, zinc prices fell by 0.18 per cent to Rs 196.70 per kg in futures market Monday after speculators cut down their holdings.

At the Multi Commodity Exchange, zinc for delivery in current month drifted down by 35 paise, or 0.18 per cent to Rs 196.70 per kg in business turnover of 861 lots.

Analysts said cutting down of positions by traders on the back of a weak trend overseas on economic slowdown concerns, mainly attributed the fall in zinc prices at futures trade.

Globally, at the London Metal Exchange (LME) zinc for delivery in three-month slid 0.4 per cent.