Zinc sheds 0.39% on lower global trend

Zinc prices shed 0.39% to Rs 103.40 per kg in futures market today amid a weak trend in base metals overseas and reduced offtake in the spot markets.

At the Multi Commodity Exchange, September zinc sheds 40 paise, or 0.39%, to Rs 103.40 per kg, with a business turnover of 3,692 lots.

The October contract traded lower by 30 paise, or 0.29%, to Rs 104.35 per kg, with an open interest of 168 lots.

Market analysts attributed the fall in zinc futures prices to a weakening trend in the entire base metals at the London Metal Exchange.

Meanwhile, zinc fell by 0.8% to $ 2,175.50 a tonne at the London Metal Exchange.