Low demand drags down zinc futures by 1.89 pc

Zinc prices fell by 1.89 per cent to Rs 165.70 per kg in futures trading today as speculators cut down bets amid sluggish demand in the spot market.
At the Multi Commodity Exchange, zinc for delivery in May declined by Rs 3.20, or 1.89 per cent, to Rs 165.70 per kg in a business turnover of 8,775 lots.
Likewise, the metal for delivery in June traded lower by Rs 3.10, or 1.83 per cent to Rs 166.35 per kg in 7,850 lots.
Market analysts said offloading of positions by traders on the back of tepid demand from consuming industries in the physical market, mainly attributed the fall in zinc prices at futures trade.