Muted demand drags down zinc futures by 0.17%

Zinc prices declined by 0.17 per cent to Rs 179.90 per kg in futures trade today as speculators cut down their bets, driven by sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, zinc for delivery in current month fell by 30 paise, or 0.17 per cent, to Rs 179.90 per kg in business turnover of 156 lots.
Similarly, the metal for delivery in May contracts shed 20 paise, or 0.11 per cent, to Rs 180.75 per kg in 2 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market and a weak trend in select base metals overseas, mainly led to decline in zinc prices at futures trade.