Zinc prices moved down 1.57 per cent to Rs 179.10 per kg in futures trade today as speculators cut bets, driven by a weak trend overseas amid fall in demand at the spot market.
At the Multi Commodity Exchange, zinc for delivery in August fell by Rs 2.85, or 1.57 per cent to Rs 179.10 per kg in a business turnover of 4022 lots.
On similar lines, the metal for delivery in September contracts was trading lower by Rs 2.55, or 1.40 per cent to Rs 179.30 per kg in 71 lots.
Analysts said offloading of positions by traders in line with a weak trend overseas amid slackened demand from consuming industries in the physical market weighed on zinc prices in futures trade.
Globally, zinc for delivery in three-month dropped 0.9 per cent to USD 2,603 a tonne on the London Metal Exchange.
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