Zinc futures fall 0.74% on global trend, low demand

NEW DELHI: Zinc futures traded 0.74 per cent higher at Rs 120.40 per kg today on offloading of positions by speculators amid weak cues from overseas market and subdued spot demand at domestic markets.

At the Multi Commodity Exchange, zinc for delivery in September traded lower by 90 paise, or 0.74 per cent, to Rs 120.40 per kg in a business turnover of 570 lots.

In a similar fashion, the metal for delivery in October shed 85 paise, or 0.70 per cent, to Rs 121.15 per kg in 29 lots.

Market analysts said besides subdued demand from consuming industries in the spot market, weakness in copper and other metals at the London Metal Exchange on demand concerns after China's factory activity slumped to a three-year low, led to the fall in zinc prices at futures trade.