Zinc down by over 1% on global cues

Zinc prices moved down by over 1% to Rs 115.05 per kg in futures market today as speculators offloaded their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, zinc for delivery in February contracts moved down by Rs 1.20 or 1.03% to Rs 115.05 per kg in business turnover of 1,272 lots.

The metal for delivery in March traded fell by a similar margin to trade at Rs 115.60 per kg in 24 lots.

Marketmen said weakness in copper and other base metals at in global markets slowing global growth concerns mainly weighed on zinc prices at futures trade.
 

At the LME, zinc dropped as much as 0.8%.