Zinc prices drifted lower by 0.53 per cent to Rs 179.70 per kg in futures market today as speculators reduced their positions, taking negative cues from spot market on muted demand.
At the Multi Commodity Exchange, zinc for delivery in August declined by 90 paise, or 0.53 per cent, to Rs 179.70 per kg in a business turnover of 908 lots.
Similarly, the metal for delivery in September shed 85 paise, or 0.47 per cent, to Rs 179.60 per kg in 11 lots.
Analysts said, offloading of positions by traders on the back of subdued demand from consuming industries in the physical market led to decline in zinc prices in futures trade.
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