Zinc down 0.5% on lower global trend

Metal for delivery in April weakened by 0.46%

Zinc prices declined by 0.59% to Rs 117.80 per kg in futures trade today as speculators offloaded their positions tracking a weak trend overseas.

At the Multi Commodity Exchange, zinc for delivery in March declined by 70 paise, or 0.59%, to Rs 117.80 per kg in business turnover of 279 lots.

Likewise, the metal for delivery in April weakened by 55 paise, or 0.46%, to Rs 118.80 per kg in 27 lots.

Market analysts said speculators offloaded their positions in tandem with a weak global trend as Chinese manufacturing data unexpectedly declined in March, which mainly led to fall in zinc prices at futures trade.