Zinc prices drifted lower by 0.24 per cent to Rs 163.05 per kg in futures market today as speculators cut down bets amid weak demand in the spot market.
At the Multi Commodity Exchange, zinc for delivery in July shed 40 paise, or 0.24 per cent to Rs 163.05 per kg in business turnover of 5 lots.
On similar lines, the metal for delivery in June contracts traded lower by 30 paise, or 0.18 per cent to Rs 162.60 per kg in 326 lots.
Market analysts said offloading of positions by participants owing to muted demand from consuming industries in the physical market, mainly influenced zinc prices at futures trade.
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