Zinc Prices Dip as Speculators Cut Exposure

Zinc prices dropped by 0.29% to Rs 256.85 per kilogram on Tuesday in the futures market. Speculators trimmed their positions due to negative cues from the spot market and reduced demand from consuming industries.

In a negative turn for the commodities market, zinc prices on Tuesday fell by 0.29 percent, settling at Rs 256.85 per kilogram. This decline was attributed to speculators reducing their exposure as negative cues emanated from the spot market.

Trading on the Multi Commodity Exchange saw June delivery zinc contracts trading lower by 75 paise or 0.29 percent, at Rs 256.85 per kg across 1,975 lots.

Analysts pointed out that the weakening demand from consuming industries significantly contributed to the trimming of positions by market participants, subsequently weighing down zinc prices.