Zinc futures remain weak on global cues, low demand

Continuing its losing streak for third day, zinc prices eased further by 1.57 per cent to Rs 163.15 per kg in futures market today as speculators engaged in reducing positions, driven by a weak trend overseas.
Besides, subdued demand in the spot market weighed on prices.
At the Multi Commodity Exchange, zinc for delivery in July fell by Rs 2.60, or 1.57 per cent, to Rs 163.15 per kg in a business turnover of 286 lots.
Likewise, the metal for delivery in June traded lower by Rs 2.40, or 1.45 per cent to Rs 162.75 per kg in 11,828 lots.

Market analysts said trimming of positions by participants amid a weak trend overseas and weak demand in the spot market, mainly kept zinc prices lower at futures trade.