Zinc futures soften 0.47%, in line with global trend

Zinc futures traded 0.47 per cent lower at Rs 191.10 per kg today after speculators trimmed positions, tracking a weak global trend.

In futures trading at Multi Commodity Exchange, zinc for delivery in February declined 90 paise, or 0.47 per cent, to Rs 191.10 per kg. It clocked a business turnover of 22,880 lots.

The metal for delivery in March softened by a similar margin to trade at Rs 191 per kg in 2,352 lots.

Market analysts said weakness in zinc futures trade was mostly due to a falling trend in copper and other base metals pack amid signs of a slower-than-expected demand recovery in China after Lunar New Year holidays.