Zinc futures soften 0.47% on muted spot demand

Zinc futures traded 0.47 per cent lower at Rs 147.05 per kg today as speculators trimmed positions even as metal strengthened at the London Metal Exchange (LME).
Zinc for delivery in current month declined by 70 paise, or 0.47 per cent, to Rs 147.05 per kg at the Multi Commodity Exchange, clocking a business turnover of 777 lots.
The metal for delivery in August softened by a similar margin to trade at Rs 147.50 per kg in 498 lots.
Analysts said the weakness in zinc at futures trade was mostly attributed to trimming of positions by speculators amid a weak trend at the domestic spot markets but firm overseas trend capped the losses.