Zinc futures shed 0.33% on weak global cues

Zinc prices fell by 0.33% to Rs 104.60 per kg in futures market today as speculators reduced their positions taking weak cues from global market amid a weak spot markets trend.

At the Multi Commodity Exchange, zinc for delivery in April declined by 35 paise, or 0.33%, to Rs 104.60 per kg, with a business volume of 365 lots.

The metal for delivery in May shed 20 paise, or 0.19% to Rs 106.25 per kg, with an open interest of 119 lots.   

Analysts attributed the fall in zinc futures prices to reducing of positions by speculators, largely driven by a weak trend in most base metals overseas.