Zinc futures down 0.54% on global cues, subdued spot demand

NEW DELHI: Amid a weak trend in the global markets, zinc futures prices today fell by 0.54 per cent as participants reduced their positions.

At the Multi Commodity Exchange, zinc for delivery in April traded lower by 55 paise, or 0.54 per cent, to Rs 101.10 per kg, with a business turnover of 1,119 lots.

The metal for delivery in May fell by 45 paise, or 0.53 per cent, to trade at Rs 102.55 per kg in a turnover of 62 lots.

Marketmen said the fall in zinc prices at futures trade was mostly in tandem with a weak trend copper and other base metals overseas on on concern that demand from China, the biggest user, will weaken after the International Monetary Fund cut its forecast.