Zinc futures shed 0.52 pc on weak overseas trend

NEW DELHI: Zinc futures prices declined by 0.52 per cent to Rs 104.60 per kg today, largely in tandem with a weak trend in the base metals pack in global markets.

At the Multi Commodity Exchange counter, zinc for delivery in February fell by 55 paise, or 0.52 per cent to Rs 104.60 per kg, with a business turnover of three lots.

Similarly, zinc for January delivery also shed 20 paise, or 0.19 per cent, to Rs 103.60 per kg, with a business turnover of 134 lots, while December contract shed 15 paise, or 0.15 per cent to Rs 102.45 per kg, in a turnover of 1,960 lots.

Market analysts said a weak trend in base metals pack at the London Metal Exchange as a firm dollar reduced appeal for raw materials as an alternative investment and subdued domestic demand, led to the fall in zinc futures prices here.