Tepid demand drags down zinc futures by 0.89 pc

Zinc prices softened by 0.89 per cent to Rs 206.55 per kg in futures market today as participants cut short bets, driven by a fall in demand from consuming industries at domestic spot market.
At the Multi Commodity Exchange, zinc for delivery in December traded lower by Rs 1.85, or 0.89 per cent, to Rs 206.55 per kg in a business turnover of 4,231 lots.
Similarly, the metal for delivery in November shed Rs 1.55, or 0.74 per cent to Rs 207.45 per kg in 4,231 lots.
Analysts said trimming of positions by traders due to tepid demand from consuming industries in the spot market, weighed on zinc prices at the futures trade.