Zinc prices drifted down by 0.79 per cent to Rs 182.35 per kg in futures trading Tuesday as speculators reduced their exposure, taking negative cues from the spot market on low demand amid weak trend overseas.
At the Multi Commodity Exchange, zinc for delivery in September fell by Rs 1.45, or 0.79 per cent to Rs 182.35 per kg in a business turnover of 744 lots.
Similarly, the metal for delivery in October declined Rs 1.40, or 0.76 per cent to Rs 183.60 per kg in 116 lots.
Analysts said offloading of positions by participants owing to easing demand from consuming industries in the physical market amid weak global cues as an intensifying US-China trade war raised concerns over demand for industrial metals in top consumer China, mainly kept zinc prices down at futures trade.
Meanwhile, zinc for delivery in three months slid 3.2 per cent to USD 2,483 a tonne on the London Metal Exchange.
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