BS reported that Indian zinc futures prices fell 0.58% to INR 120.90 per kilogram as speculators reduced positions amid sluggish domestic demand and weak global trend.

At the Multi Commodity Exchange, zinc prices for delivery in October declined by 70 paise or 0.58% to INR 120.90 per kilogram in business turnover of 14 lots. Likewise, the metal prices for delivery in September traded lower by 75 paise, or 0.52% to INR 119.35 per kilogram in 385 lots.

Market analysts said that besides sluggish domestic demand in the spot market, weak trend in base metals overseas on concerns that the US Federal Reserve may curtail stimulus, reducing demand for the metals, mainly weighed on zinc futures.