Zinc declines on global cues

Subdued domestic demand also pulled prices down

Amid a weakening global trend and subdued domestic demand, zinc futures traded lower by 0.86% to Rs 104.20 per kg in futures trade.

At the MCX, zinc for delivery in June traded lower by 90 paise, or 0.86%, to Rs 104.20 per kg, with a business turnover of 7,246 lots.

The July contract shed 75 paise, or 0.71%, to Rs 104.80 per kg in seven lots.

Market analysts said apart from a weak trend in base metals in global markets, subdued domestic demand also kept pressure on zinc prices at futures trade.

Meanwhile, zinc dropped 1.7% to $1,847 a tonne on the London Metal Exchange.