Zinc softens 0.32% on global cues

Traders offload positions after metal sheds 0.7% London Metal Exchange

Zinc prices down by 0.32 per cent to 141.70 per kg in futures trade today as participants offloaded positions after metal weakened on the London Metal Exchange (LME).

At the Multi Commodity Exchange, zinc for delivery in August declined by 45 paise, or 0.32 per cent, to Rs 141.70 per kg in business turnover of 281 lots.

Likewise, the metal for delivery in September shed 35 paise, or 0.25 per cent, to Rs 141.90 per kg in 34 lots.

Globally, zinc in the LME declined for the second day, down as much as 0.7 per cent to $2,336 a tonne.

Analysts said the fall in zinc at futures trade was mostly attributed to weakness in copper and other base metals at the LME.