Zinc down 0.3% on global cues

Zinc prices moved down by 0.28% to Rs 142.50 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 October moved down by 40 paise, or 0.28% to Rs 142.50 per kg in business turnover of 183 lots.

The metal for delivery in November fell by a similar margin to trade at Rs 143.15 per kg in eight lots.

Marketmen said speculators offloaded their positions in line with a weak global trend on demand concerns after a gauge of economic strength in China pointed to a slowdown and the IMF cut its growth forecast.