Zinc futures remain weak, shed 0.37 pc on fall in demand

Zinc prices drifted lower by 0.37 per cent to Rs 176.35 per kg in futures trade today as traders engaged in trimming their positions, taking negative cues from spot market on fall in demand from consuming industries.
At the Multi Commodity Exchange, zinc for delivery in January declined by 65 paise, or 0.37 per cent, to Rs 176.35 per kg in a business turnover of 477 lots.
In a similar fashion, the metal for delivery in February shed 40 paise, or 0.23 per cent, to Rs 176.85 per kg in 2 lots.
Market analysts said offloading of positions by participants owing to slackened demand from consuming industries in the spot market, kept zinc prices down at futures trade.