Zinc futures soften 1.39% on weak spot demand

Zinc futures traded 1.39 per cent lower at Rs 177.90 per kg today after speculators trimmed positions, tracking a weak trend at the domestic physical markets due to low demand.
In futures trading at the Multi Commodity Exchange, zinc for delivery in April declined Rs 2.50, or 1.39 per cent to Rs 177.90 per kg. It clocked a business turnover of 33 lots.
On similar lines, the metal for delivery this month was trading lower by Rs 2.40, or 2.40 per cent, at Rs 177.60 per kg in 2,178 lots.
Analysts said weakness in zinc futures trade was mostly in tandem with a weak trend at the domestic spot markets due to low demand from consuming industries.