Muted demand drags down zinc futures by 0.21%

Zinc prices declined 0.21 per cent to Rs 216.85 per kg in futures trade today as speculators cut bets, driven by sluggish demand from consuming industries in the spot market.

At Multi Commodity Exchange, zinc for delivery in February fell 45 paise, or 0.21 per cent, to Rs 216.85 per kg in business turnover of 15 lots.

Similarly, the metal for delivery in January contracts shed 35 paise, or 0.16 per cent, to Rs 217.35 per kg in 343 lots.

Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market led to decline in zinc prices.