Zinc down by 0.2% on low demand

Zinc prices drifted by 0.22% to Rs 113.30 per kg in futures trade today as participants engaged in trimming their positions, taking negative cues from spot market on muted demand from consuming industries.

At the Multi Commodity exchange, zinc for delivery in February month weakened by 25 paise or 0.22% to Rs 113.30 per kg in business turnover of 804 lots.

In likewise manners, the metal for delivery in far-month March contracts traded lower by a similar margin to Rs 114 per kg in 10 lots.

Analysts said besides sluggish demand at domestic spot market, weakness in copper and other base metals in global markets on concern that global production cuts are insufficient to counter faltering demand in China, the world's biggest consumer, influenced zinc prices at futures trade.