Zinc sheds further ground on weak global trend

Eurozone crisis escalated the fall

Zinc prices fell marginally 0.14% to Rs 104.65 per kg in futures trading today, largely in tandem with a weakening trend overseas on euro-zone worries amid slackened spot demand.

At the MCX, zinc for delivery in June traded lower by 25 paise, or 0.14%, to Rs 104.65 per kg in business turnover of 96 lots.

Similarly, the May contract was lower by 10 paise, or 0.10%, at Rs 103.95 per kg in 95 lots.

Market analysts said weak trend in the base metals in overseas markets and subdued spot demand mainly influenced zinc prices at futures trade.

Meanwhile, zinc fell $12, or  0.62%, to $1,922 a tonne on the London Metal Exchange.