Tepid demand drags down zinc futures by 0.30 pc

Zinc prices softened by 0.30 per cent to Rs 197.50 per kg in futures market today as participants cut down their bets, driven by a fall in demand from consuming industries at domestic spot market coupled with a weak trend overseas.

At the Multi Commodity Exchange, zinc for delivery in October traded lower by 60 paise, or 0.30 per cent, to Rs 197.50 per kg in a business turnover of 121 lots.

Similarly, the metal for delivery in current month shed 55 paise or 0.28 per cent to Rs 197.55 per kg in 3,850 lots.

Analysts said trimming of positions by traders due to tepid demand from consuming industries in the spot market and weakness in the base metals pack weighed on zinc prices at the futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)