Zinc futures down on muted demand

NEW DELHI: Zinc prices on Wednesday fell 0.34 per cent to Rs 247.75 per kg in the futures trade, as speculators reduced their exposure taking negative cues from the spot market.

On the Multi Commodity Exchange, zinc contracts for the August delivery traded lower by 85 paise, or 0.34 per cent, to Rs 247.75 per kg in 1,358 lots.

Analysts said offloading of positions by participants, owing to slackened demand from consuming industries in the physical market, mainly weighed on zinc prices here.