Zinc futures fall on lower global trend

Taking negative cues from global markets, zinc futures prices fell by 1.77 per cent to Rs 113.50 per kg in futures trade today. 

Subdued demand in the spot market also weighed on the zinc futures prices here.

At the Multi Commodity Exchange, zinc for delivery in February declined by Rs 2.05, or 1.77 per cent, to Rs 113.50 per kg, with a business turnover of 40 lots.

The metal for delivery in March traded lower by Rs 1.85, or 1.59 per cent, to Rs 114.65 per kg, with a business volume of 27 lots. 

Market analysts said weakening trend in the entire base metals pack and sluggish demand at the domestic market mainly led to the fall in zinc futures prices here.

 

Meanwhile, zinc fell 2.9 per cent, to $2,520 a tonne on the London Metal Exchange.