MUMBAI (Commodity Online): Zinc futures traded down in the early trading hours due to the subdued demand in the spot market on Friday. Bearish sentiments over the metal in the global market also impacted the domestic futures.

MCX Zinc September contract lost Re 0.55 or 0.55 percent to Rs 100.20 per kg with an open interest of 4,603 lots. October delivery also edged lower by Re 0.45 or 0.44 percent to Rs 101.20 per kg with an open interest of 484 lots.

Market analysts said weak trend in physical markets owing to slack demand, weakness in Copper and other base metals in the global markets had put some pressure on the futures trade here.

Japan's refined Zinc exports for July fell 20 percent from a year earlier to 7,580 tonnes, marking the seventh straight month of declines, Ministry of Finance data showed. Zinc yesterday we have seen that market has moved 0.45%.

Market has opened at 100 & made a low of 100 versus the day high of 102.2. The total volume for the day was at 33087 lots and the open interest was at 4426.Now support for the zinc is seen at 99.8 and below could see a test of 98.8. Resistance is now likely to be seen at 102, a move above could see prices testing 103.2.

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