Zinc extend losses, down 0.35% on sluggish demand

Continuing its falling streak for the second day, zinc prices fell by another 0.35 per cent to Rs 183.45 per kg in futures trading today as participants engaged in trimming their positions, taking negative cues from spot market on tepid demand.
At the Multi Commodity Exchange, zinc for delivery in February drifted lower by 65 paise, or 0.35 per cent, to Rs 183.45 per kg, in a business turnover of four lots.
On similar lines, the metal for delivery in current month shed 50 paise, or 0.27 per cent, to Rs 183.10 per kg in 465 lots.
Analysts said weakness in metals at the domestic spot markets due to low demand from consuming industries, mainly kept zinc prices down at futures trade.