Zinc moves down 0.83 pc in futures trade on tepid demand

Zinc prices softened by 0.83 per cent to Rs 226.90 per kg in futures trading today as speculators cut bets, taking weak cues from the spot market on muted demand from consuming industries.
Besides, a weak trend overseas weighed on prices.
At the Multi Commodity Exchange, zinc for delivery in March declined by Rs 1.90, or 0.83 per cent, to Rs 226.90 per kg in a business turnover of 462 lots.
Similarly, the metal for delivery in February was trading lower by Rs 1.85, or 0.81 per cent, to Rs 227.50 per kg in 12,885 lots.
Marketmen said offloading of positions by traders owing to slackened demand from consuming industries in the physical market and weak global cues, mainly influenced zinc prices at the futures trade.

Meanwhile, zinc for delivery in three months fell USD 23.50 to USD 3,533.50 per tonne on the London Metal Exchange.