Zinc futures drop 0.56 pc on weak global cues

Zinc futures shed 0.56 per cent to Rs 187.35 per kg today as speculators reduced positions amid weak global trend and ending monthly settlement.

At the Multi Commodity Exchange, zinc prices for delivery in current month declined by Rs 1.05, or 0.56 per cent, to Rs 187.35 per kg, in a business turnover of 736 lots.

Likewise, the metal for delivery in April fell by a similar margin to trade at Rs 187.85 per kg in 39 lots.

Analysts said apart from slackened domestic demand at the spot market, a weak trend in base metals at the London Metal Exchange led to a fall in zinc futures prices.