Muted demand drags down zinc futures by 0.61%

Zinc prices declined by 0.61 per cent to Rs 186.90 per kg in futures trade today as speculators cut down their bets, driven by sluggish demand from consuming industries in the spot market.
At Multi Commodity Exchange, zinc for delivery in February month fell by Rs 1.15, or 0.61 per cent, to Rs 186.90 per kg in business turnover of 297 lots.
Similarly, the metal for delivery in March contracts shed Rs 1.05, or 0.56 per cent, to Rs 187.25 per kg in 3 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market, mainly led to decline in zinc prices at futures trade.