Zinc declines 0.67% on global cues

Sluggish demand influences prices

Zinc prices traded lower by 0.67% to Rs 110.60 per kg in futures trade today as speculators reduced their positions, taking negative cues from overseas markets.

At the Multi Commodity Exchange, zinc for delivery in September traded lower by 75 paise, or 0.67%, to Rs 110.60 per kg, with a business turnover of 6,924 lots.

October zinc weakened by 65 paise, or 0.58%, to Rs 111.55 per kg, with a business turnover of 433 lots.

Marketmen attributed the weakness in zinc futures to a weak global trend.

They said sluggish demand in the spot market put pressure on zinc prices.

 

Meanwhile, zinc shed 0.8% to $2,072 a tonne on the London Metal Exchange.