Zinc futures falls on global cues

Zinc futures prices drifted by 0.40 per cent to Rs 111.70 per kg today after base metals remained weak in global markets on speculations of slow growth in China, the world's largest consumer.

At the Multi Commodity Exchange counter, zinc for delivery in February month fell by 45, or 0.40 per cent, to Rs 111.70 per kg, with a business turnover of 273 lots.

The metal for January delivery also edged lower by 35 paise, or 0.32 per cent, to Rs 110.60 per kg, with a business turnover of 641 lots.

Globally, zinc lost 1.3 per cent to $2,448 a tonne at the London Metal Exchange in early trade today.

Analysts said weakening trend in the base metals at the London Metal Exchange, as expectations of slowdown in growth in China, the largest consumer, kept pressure on the zinc futures prices here.