Zinc down 0.5% on global cues, subdued spot demand

Metal for delivery in current month fell by 0.51%

Zinc futures prices fell by 0.54% today as participants reduced positions amid a weak trend in base metals at the London Metal Exchange.

At the Multi Commodity Exchange, zinc for delivery in November traded lower by 65 paise, or 0.54%, to Rs 119.35 per kg, with a business turnover of 199 lots.

The metal for delivery in current month fell by 60 paise, or 0.51%, to trade at Rs 118.20 per kg in a turnover of 155 lots.

Marketmen said the fall in zinc prices at futures trade was mostly in tandem with a weak overseas trend where base metals weakened as the US Federal Reserve fuelled speculation that it will start tapering stimulus in coming months, weighed on zinc futures prices.