Zinc futures fall on lower global trend

NEW DELHI: Taking negative cues from global market, zinc futures prices fell by 0.72 per cent to Rs 111.05 per kg in futures trade today largely on weakening global trend.

Subdued demand in the spot market further fuelled the downtrend.

At the Multi Commodity Exchange counter, zinc for delivery in January declined by 80 paise, or 0.72 per cent, to Rs 111.05 per kg, with a business turnover of 14 lots.

Likewise, the metal for delivery in February traded lower by 75 paise, or 0.66 per cent, to Rs 112.20 per kg, with a business volume of six lots.

Market analysts said fresh selling by traders in tandem with weakening global trend on demand concerns after China stepped up measures to cool its economy and the dollar strengthened.

Meanwhile, zinc fell 0.5 per cent, to USD 2,445 a tonne on the London Metal Exchange.