Zinc loses 2.64 pc in futures trade

NEW DELHI: Tracking a weak trend in industrial metals on the London Metal Exchange, zinc prices fell by 2.64 per cent to Rs 94.20 per kg in futures trade today.

A weak trend in the spot market, owing to subdued demand, also put pressure on zinc prices.

At the Multi Commodity Exchange, zinc for delivery in September declined by Rs 2.55, or 2.64 per cent, to Rs 94.20 per kg, with a business turnover of two lots.

In a similar fashion, the metal for September contract delivery shed Rs 1.75, or 1.89 per cent, to Rs 91 per kg in 2,790 lots.

At the London Metal Exchange ( LME), zinc shed 3.1 per cent to USD 1,881 per tonne in early trade today.

Analysts attributed the rise in zinc futures prices to a weakening trend in industrial metals for the second straight day on the LME amid concerns that Europe's sovereign debt crisis and the prospects for slower growth in China will hurt demand.