Zinc futures down 0.56 pc on global cues

NEW DELHI: Zinc futures fell by 0.56 per cent today as traders indulged in reducing their positions, tracking a weakening trend in base metals overseas.

Subdued demand from consuming industries in the spot market also put some pressure on zinc futures prices.

At the Multi Commodity Exchange, zinc for delivery in July fell by 60 paise, or 0.56 per cent, to Rs 106.20 per kg, with a business turnover of 717 lots.

The metal for delivery in August also fell by the same margin to Rs 106.70 per kg, with a trade turnover of 48 lots.

Analysts said a weakening trend in base metals at the London Metal Exchange ( LME) and sluggish demand in the spot markets led to the fall in zinc futures prices.