Zinc prices drifted lower by 0.84 per cent to Rs 171.75 per kg in futures trade today as speculators cut down their positions, taking negative cues from spot market on tepid demand.
At the Multi Commodity Exchange, zinc for delivery in September declined by Rs 1.45, or 0.84 per cent to Rs 171.75 per kg in business turnover of 61 lots.
In a similar fashion, the metal for delivery in August shed Rs 1.40, or 0.81 per cent to Rs 171.65 per kg in 1,755 lots.
Analysts said off-loading of positions by traders, driven by a fall in demand from consuming industries in the physical market, mainly led to decline in zinc prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
