Zinc futures soften 0.28% on profit-booking

Zinc futures traded 0.28 per cent lower at Rs 162.95 per kg today after speculators trimmed positions at prevailing levels.

In futures trading at the Multi Commodity Exchange, zinc for delivery in current month declined 45 paise, or 0.28 per cent, to Rs 162.95 per kg. It clocked a business turnover of 1,032 lots.

The metal for delivery in May softened by 30 paise, or 0.18 per cent, to trade at Rs 163.50 per kg in 40 lots.

Market analysts said weakness in zinc futures trade was mostly due to profit-booking by speculators at existing levels and muted demand at the domestic spot market.