Zinc futures down on global cues, subdued demand

Zinc prices moved down 0.48 per cent to Rs 208.90 per kg in futures market today as speculators cut bets, taking weak cues from global markets.

Besides, muted demand at domestic spot market too weighed on the prices.

At the Multi Commodity Exchange, zinc for delivery in April fell by Re 1, or 0.48 per cent to Rs 208.90 per kg in a business turnover of 513 lots.

Likewise, the metal for delivery in March contracts shed 80 paise, or 0.38 per cent to Rs 208.45 per kg in 3,952 lots.

Analysts attributed the slide in zinc futures to offloading of positions by participants on weak trend in base metals in the global market as concerns over US-China trade relations continued to batter global stocks and threaten to blunt the demand for metals.