Base metals: Zinc, nickel futures down on tepid demand

New Delhi: Zinc prices on Tuesday fell 0.07 percent to Rs 149.60 per kg in futures trade as speculators reduced their exposure taking negative cues from spot market.

On the Multi Commodity Exchange, zinc for delivery in May declined by 10 paise, or 0.07 percent, to Rs 149.60 per kg in a business turnover of 11,574 lots.

Similarly, the metal for delivery in June was trading lower by 30 paise, or 0.2 percent, to Rs 150.65 per kg in 9 lots.


Analysts said cutting down of positions by traders due to easing demand from consuming industries in spot market mainly weighed on zinc prices.

Nickel
Nickel prices on Tuesday fell 1.01 per cent to Rs 925.30 per kg in futures trade after participants offloaded their positions amid weak demand in spot market.

On the Multi Commodity Exchange, nickel contracts for April delivery traded down by Rs 9.40, or 1.01 per cent, to Rs 925.30 per kg with a business turnover of 86 lots.

Analysts said subdued demand in spot market mainly led to fall in nickel prices here.