Zinc down 0.2% on subdued spot demand

Metal for delivery in July edged lower by 0.16%

Zinc prices drifted by 0.24% to Rs 123.35 per kg in futures trade today as speculators trimmed positions after demand eased in the spot markets.

Also, weak trend in other base metals in global markets influenced the sentiment.

At the Multi Commodity Exchange, zinc for delivery in June shed 30 paise, or 0.24%, to Rs 123.35 per kg in a business turnover of 126 lots.

Similarly, the metal for delivery in July edged lower by 20 paise, or 0.16%, to Rs 124 per kg in five lots.

Analysts attributed the fall of zinc futures to sluggish demand in the spot markets and weak trend in base metals overseas.