Muted demand drags down zinc futures by 0.31 pc

Zinc prices drifted lower by 0.31 per cent to Rs 208.45 per kg in futures market today as participants pared holdings amid easing demand from consuming industries in the spot market.

At the Multi Commodity Exchange, zinc for delivery in June fell by 65 paise, or 0.31 per cent to Rs 208.45 per kg in business turnover of 9 lots.

Likewise, the metal for delivery in May month contracts shed 60 paise, or 0.29 per cent to Rs 207.60 per kg in 522 lots.

Analysts said traders pared their holdings due to a fall in demand from consuming industries in the physical market.