Zinc futures slide 1.99% on low demand

Zinc prices moved down by 1.99 per cent to Rs 172.15 per kg in futures market today after speculators trimmed their positions, tracking a weak trend at the domestic spot market on subdued demand from consuming industries.

At the Multi Commodity Exchange, zinc for delivery in April drifted lower by Rs 3.50, or 1.99 per cent, to Rs 172.15 per kg, in a business turnover of 15,539 lots.

On similar lines, the metal for delivery in May traded lower by a similar margin to Rs 172.80 per kg in 474 lots.

Market analysts said weakness in zinc futures trade was mostly owing to muted demand from consuming industries in the spot market.