Zinc down 1.4% on low spot demand; global cues

Metal for delivery in August edged lower by 1.28%

Tracking a weak trend overseas, zinc prices drifted by 1.37 per cent to Rs 122.55 per kg in futures trade today.

Also, low demand at the domestic spot market too put pressure on prices.

At the Multi Commodity Exchange, zinc for delivery this month shed Rs 1.70, or 1.37 per cent, to Rs 122.55 per kg in a business turnover of 1,059 lots.

Similarly, the metal for delivery in August edged lower by Rs 1.60, or 1.28 per cent, to Rs 123.35 per kg in 45 lots.

Traders attributed the fall in zinc futures to sluggish demand at the spot market and weak trend in base metals overseas amid a stock market rout in China, stoking fears that the sell-off may trigger a broader slowdown in the world's biggest metals consumer.