Zinc futures weaken by 0.09% weak spot demand

Zinc prices softened by 0.09 per cent to Rs 173.30 per kg in futures trade Tuesday as speculators cut down their bets, driven by a fall in demand in the spot market.

At the Multi Commodity Exchange, zinc for delivery in October shed 15 paise, or 0.09 per cent, to Rs 173.30 per kg in business turnover of 3 lots.

Likewise, the metal for delivery in September contracts was trading lower by 10 paise, or 0.06 per cent, to Rs 172.60 per kg in 452 lots.

Analysts attributed the slide in zinc prices in futures trade to cutting down of positions by traders due to a fall in demand from consuming industries in the physical market.