Zinc futures soften on muted demand

Zinc futures traded 0.65 per cent lower to Rs 205.60 per kg on Wednesday as speculators reduced exposure amid subdued demand at the spot market. Zinc for delivery in June contracts fell by Rs 1.35, or 0.65 per cent, to Rs 205.60 per kg at the Multi Commodity Exchange, clocking a business turnover of 4,902 lots.

Traders said the weakness in zinc prices at futures trade was mostly due to cutting down of bets by speculators in tandem with a weak trend at the spot market. Similarly, the metal for delivery in July traded 0.61 per cent lower to Rs 202.40 per kg in a business turnover of 797 lots.