Zinc futures down on muted demand

NEW DELHI: Zinc prices on Tuesday fell 0.89 per cent to Rs 244.60 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 Rs 2.20, or 0.89 per cent, to Rs 244.60 per kg in 1,951 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.