Zinc sheds 0.25% on weak global cues

Speculators offload positions as metal loses 0.3% on London Metal Exchange

Zinc futures prices today traded lower by 0.24% to Rs 103.65 per kg as speculators offloaded their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, zinc for delivery in July traded lower by 25 paise, or 0.24%, to Rs 103.65 per kg in business turnover of 1,614 lots.

August zinc weakened by 15 paise, or 0.14%, to Rs 104.25 per kg in 36 lots.

Market anlysts said speculators offloaded their positions on the back of a weak trend in overseas markets mainly kept pressure on zinc prices at futures trade.

Meanwhile, zinc fell 0.3% to $1,893 a tonne on the London Metal Exchange.