Subdued demand drags zinc futures 0.24% lower

Zinc prices slipped 0.24 per cent to Rs 211.90 per kg in futures market today as speculators trimmed positions, taking negative cues from the spot market on subdued demand.

At the Multi Commodity Exchange, zinc for delivery in the current month edged down 50 paise, or 0.24 per cent, to Rs 211.90 per kg in business turnover of 1,017 lots.

On similar lines, the metal for delivery in January contracts was trading lower by a similar margin at Rs 211.45 per kg in 447 lots.

Analysts said the weakness in zinc was mostly due to cutting down of positions by traders owing to weak demand from consuming industries in the physical market.