Zinc futures remain weak on muted demand, global cues

Zinc remained weak for the second day and prices shed another 1.46 per cent to Rs 165.15 per kg in futures trade today as speculators were indulged in reducing their positions, driven by subdued demand in the spot market amid a weak trend overseas.
At the Multi Commodity Exchange, zinc for delivery in June declined by Rs 2.45, or 1.46 per cent, to Rs 165.15 per kg, in a business turnover of 11,643 lots.
Similarly, the metal for delivery in July traded lower by Rs 2.20, or 1.31 per cent, to Rs 165.80 per kg in 503 lots.
Market analysts said offloading of positions by participants due to fall in demand from consuming industries in the physical market amid a weak trend overseas, mainly kept zinc prices lower at futures trade.