Zinc down 0.7% on subdued spot demand

Metal for delivery in June edged lower by 0.69%

Zinc prices drifted by 0.74% to Rs 121.50 per kg in futures trade today as speculators trimmed positions after demand eased in the spot markets.

Also, weak trend in other base metals in global markets influenced the sentiment.

At the Multi Commodity Exchange, zinc for delivery in May shed 90 paise, or 0.74%, to Rs 121.50 per kg in a business turnover of 757 lots.

Similarly, the metal for delivery in June edged lower by 85 paise, or 0.69%, to Rs 121.75 per kg in 188 lots.

Analysts attributed the fall of zinc futures to sluggish demand in the spot markets and weak trend in base metals overseas on speculation that demand in China, the biggest consumer of the metals, will slow.