Taking weak cues from the global market and muted demand at domestic spot market, zinc prices were down by 0.60 per cent to Rs 132.95 per kg in futures trade today as participants offloaded positions.
In futures trading, zinc for delivery in July fell by 80 paise, or 0.60 per cent, to Rs 132.95 per kg in business turnover of 3 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in June moved down by 75 paise, or 0.56 per cent, to Rs 132.25 per kg in 386 lots.
Analysts attributed fall in zinc futures to a weakening trend at the London Metal Exchange (LME) where it retreated from the highest level in 10 months and most industrial metals declined as the dollar strengthened before the monthly report on US employment.
Globally, at the LME zinc fell as much as 0.6 per cent to USD 1,970 per tonne. Prices climbed for the past six days on expectations for a deepening global shortage.
Furthermore, subdued demand at the spot market fuelled the downtrend, they said.
