Zinc futures down 0.18% on global cues

NEW DELHI: Taking weak cues from the global markets, zinc traded a shade lower at Rs 113.35 per kg in futuers trade on Monday.

At the Multi Commodity Exchange, zinc prices for delivery in August declined by 30 paise, or 0.26 per cent, to Rs 113.35 per kg in business turnover of 107 lots.

Likewise, the metal prices for delivery in July traded lower by 20 paise, or 0.18 per cent, to Rs 112.10 per kg in 1,830 lots.

Globally, zinc was down 1.2 per cent at $ 1,837.50 a tonne at the London Metal Exchange.

Market analysts said besides sluggish demand in the domestic spot market, weak global trend after a report showed that US employment climbed more than forecast in June, fueling speculation that policy makers will pare economic stimulus as the economy gains, mainly putting pressure on zinc prices in futures trade.