Zinc softens by 0.4% on global cues

Speculators trimmed positions after the metal weakened amidst subdued domestic demand

Zinc prices declined by 0.41% to Rs 133.70 per kg in futures trade today as speculators trimmed positions after the metal weakened at the London Metal Exchange (LME) amidst subdued domestic demand.

At the Multi Commodity Exchange, zinc for delivery in April declined by 55 paise, or 0.41%, to Rs 133.70 per kg in business turnover of 257 lots.

Likewise, the metal for delivery in May shed 40 paise, or 0.30%, to Rs 134.55 per kg in three lots.

Analysts said the decline in zinc at futures trade was mostly due to weakness in base metals at the London Metal Exchange.