Zinc futures down on lower global trend

Tracking weak global trend, zinc prices declined by Rs 1.70 to Rs 104.80 per kg in futures trade today on fresh selling by speculators.

At the Multi Commodity Exchange counter, zinc for February-month declined by Rs 1.70, or 1.60 per cent to Rs 104.80 per kg, with a business volume of 10 lots.

Likewise, the metal for delivery in December-month shed paise 95, or 0.91 per cent to Rs 103 per kg, with a business volume of 18 lots.

Market analysts said beside weakening trend in global markets, fall in demand in the spot market led to a decline in zinc prices at futures trade.

Meanwhile, zinc decreased 1.1 per cent to $2,275 a metric tonne on the London Metal Exchange.