Zinc futures slide 1.39% on tepid demand

Zinc prices dipped by 1.39 per cent to Rs 170.15 per kg in futures trade today after speculators reduced their exposure, driven by muted demand from consuming industries at spot market.
At the Multi Commodity Exchange, zinc for delivery in May fell by Rs 2.40, or 1.39 per cent to Rs 170.15 per kg in business turnover of 2,226 lots.
On similar lines, the metal for delivery in far-month June contracts shed Rs 2.35, or 1.36 per cent to Rs 170.65 per kg in 168 lots.
Market analysts said weakness in zinc futures trade was mostly due to offloading of positions by speculators due to sluggish demand from consuming industries in the spot market.