Zinc weakens in range-bound trade

June and July contracts lose 0.19 and 0.14% respectively as subdued domestic demand adds to pressure on the metal

Amid a weakening global trend and subdued domestic demand, zinc futures traded lower by 0.19% to Rs 105.65 per kg today.

At the Multi Commodity Exchange, zinc for delivery in June traded lower by 20 paise, or 0.19%, to Rs 105.85 per kg, with a business turnover of 247 lots.

The July contract shed 15 paise, or 0.14%, to Rs 106.10 per kg in 25 lots.

Market analysts said apart from a weak trend in base metals in global markets, subdued domestic demand also put pressure on zinc prices at futures trade.

Meanwhile, zinc dropped 0.2% to $1,896 a tonne on the London Metal Exchange.