New Delhi, May 16
Zinc prices declined on Friday as speculators reduced their holdings in response to subdued demand from consuming industries, reflecting a cautious sentiment in the physical market.
On the Multi Commodity Exchange (MCX), zinc futures for June delivery dropped by Rs 1.20 or 0.46%, settling at Rs 257.30 per kilogram. The contract witnessed a total volume of 1,545 lots during the session.
According to market analysts, the fall in zinc prices was primarily driven by participants trimming their positions amid weakening demand in the spot market. The softer industrial appetite has pressured sentiments, leading to a dip in futures.
The broader market tone for industrial metals remained cautious, with zinc mirroring the bearish trend due to lackluster demand signals from the physical segment.