Metal watch: Zinc down; lead slips

Muted demand drags down zinc futures by 0.30 per cent
Zinc prices fell by 0.30 per cent to Rs 199.75 per kg in futures trading Friday as traders trimmed their positions amid tepid demand at the domestic spot markets.

A the Multi Commodity exchange, zinc for delivery in current month fell by 60 paise, or 0.30 per cent to Rs 199.75 per kg in business turnover of 470 lots.

Analysts attributed slide in zinc futures to offloading of positions by participants in line with a weak trend overseas and decline in demand from consuming industries in the domestic physical market.


Lead futures slip on profit-booking
Lead futures traded 0.24 per cent down at Rs 146.40 per kg Friday after participants reduced their exposure to book profits.

At the Multi Commodity exchange, lead for delivery in the current month contracts was trading 35 paise down, or 0.24 per cent, at Rs 146.40 per kg in a business turnover of 231 lots.

Market analysts said apart from slack demand from battery-makers, profit-booking by participants at existing levels, led to the fall in lead futures prices here.