Zinc down 1.3% on muted demand

Zinc moved down 1.26% to Rs 137.65 per kg in futures market today as speculators reduced their positions in tandem with a weak global trend.

At Multi Commodity Exchange, zinc for delivery in current month dropped Rs 1.75 or 1.26% to Rs 137.65 per kg in a business turnover of 3,099 lots.

Metal for delivery in July traded lower by Rs 1.65 or 1.18% at Rs 138.30 per kg in a business turnover of 71 lots.

Marketmen said trimming of positions by participants to book profits amid muted demand at the domestic spot markets mainly led to the fall in zinc.