Zinc declines on global cues

Speculators offload positions on lesser demand

Zinc prices were trading marginally lower by 0.24% to Rs 105.65 per kg in futures trade today after speculators off-loaded their positions amid weak trend in overseas markets and fall in spot demand.

At the MCX, zinc for delivery in May month shed 25 paise, or 0.24%, to Rs 105.65 per kg in business turnover of 2,875 lots.

Likewise, the metal for delivery in the June contract weakened by 20 paise, or 0.19%, to Rs 106.35 per kg in 84 lots.

Market analysts attributed the fall in zinc futures to a weak trend in overseas markets and subdued spot demand.

Meanwhile, zinc dropped 0.2% to $1,971 a tonne on the London Metal Exchange.