Zinc futures down 0.53% on low demand

Zinc prices drifted lower by 0.53 per cent to Rs 216.10 per kg in futures market today as speculators cut their bets following slump in demand from domestic industries at the spot markets.

At the Multi Commodity Exchange, zinc for delivery in

far-month July fell by Rs 1.15, or 0.53 per cent to Rs 216.10 per kg in business turnover of 7 lots.

On similar lines, the metal for delivery in June shed 85 paise, or 0.39 per cent to Rs 216.55 per kg in 487 lots.

Analysts said off-loading of positions by participants owing to tepid demand from consuming industries in the physical market mainly weighed on zinc prices at futures trade.