Zinc weakens 0.82% on global cues

Weak overseas trend on concerns that retail sales in Europe shrank in August

Zinc futures traded lower by 0.82% to Rs 109 per kg today as speculators reduced positions, taking negative cues from overseas markets.

At the Multi Commodity Exchange, zinc for delivery in October traded lower by 90 paise, or 0.82%, to Rs 109 per kg, with a business turnover of 1,476 lots.

November zinc weakened by 85 paise, or 0.77%, to Rs 109.75 per kg, with a business turnover of 46 lots.

Marketmen attributed the weakness in zinc futures to a weak global trend amid concerns that data today may show retail sales in Europe shrank for the second straight month in August.