Zinc futures slide 0.30% as traders trim position

Zinc futures fell by 0.30 per cent to Rs 150.45 per kg today as speculators indulged in reducing positions amid a weak trend in base metals overseas and low spot demand.
Zinc for delivery in current month shed 45 paise or 0.30 per cent to Rs 150.45 per kg at the Multi Commodity Exchange. It clocked a business turnover of 734 lots.
The metal for delivery in November too fell by a similar margin to trade at Rs 151.10 per kg in 23 lots.
Analysts attributed the fall in zinc futures to cutting down of bets by participants, tracking weakness in base metals pack at the London Metal Exchange (LME) amid concerns over China's economy.