Zinc futures slide 0.30% as speculators cut positions

Zinc prices eased by 0.30 per cent to Rs 199.65 per kg in futures market today as speculators cut down positions, taking negative cues from spot market on tepid demand from consuming industries.
At the Multi Commodity Exchange, zinc for delivery in August traded lower by 60 paise, or 0.30 per cent to Rs 199.65 per kg in business turnover of 2643 lots.
Similarly, the metal for delivery in September contracts shed 55 paise, or 0.27 per cent to Rs 200.05 per kg in 279 lots.
Market analysts attributed the weakness in zinc futures to offloading of positions by participants amid tepid demand from consuming industries in the physical market.