Zinc marginally down on global cues

Zinc prices fell by 0.35% to Rs 100.45 per kg in futures trade today as speculators reduced their exposure amid a weak trend overseas.

Subdued demand in the domestic spot market also put pressure on zinc prices.

At the Multi Commodity Exchange, September zinc declined by 35 paise, or 0.35%, to Rs 100.45 per kg, with a business turnover of 578 lots.

The October contract shed Rs 30, or 0.31%, to Rs 101.45 per kg in 33 lots.

Market analysts attributed the rise in zinc futures prices to a weakening trend on the London Metal Exchange on account of global demand concerns, coupled with subdued demand in the spot market.