Zinc falls by 0.7%, in line with global trend

Zinc futures traded 0.69% lower at Rs 100.70 per kg today after speculators trimmed positions after metal dropped to a six-year low at the London Metal Exchange (LME).

In futures trading at Multi Commodity Exchange, zinc for delivery this month declined 70 paise, or 0.69%, to Rs 100.70 per kg. It clocked a business turnover of 3,400 lots.

On similar lines, the metal for delivery in December softened by 55 paise, or 0.54%, to Rs 102.70 per kg in 14 lots.

Analysts said weakness in zinc futures trade was mostly due to a falling trend in base metals pack in the global markets on concerns over faltering Chinese demand and the dollar traded at its strongest in more than a decade.

Globally, zinc lost as much as 1.5% to $1,525 a metric tonne atd the LME, its lowest level since July 2009.