Zinc futures soften 0.70% on muted demand

Zinc futures traded 0.70 per cent lower at Rs 184.55 per kg today after speculators trimmed positions, tracking a weak trend at the domestic spot market.
In futures trading at Multi Commodity Exchange, zinc for delivery in current month declined by Rs 1.30, or 0.70 per cent, to Rs 184.55 per kg. It clocked a business turnover of 669 lots.
On similar lines, the metal for delivery in April softened by Rs 1.10, or 0.59 per cent, to Rs 185.15 per kg in 53 lots.
Market analysts said weakness in zinc futures trade was mostly due to a falling trend in select base metals owing to muted demand from consuming industries.