Zinc futures were trading lower during the afternoon trade in the domestic market on Monday as speculators trimmed their bets in the industrial metal amid sluggish demand in the spot market. Further, decline in demand from consuming industries in the domestic spot markets, too influenced the downtrend at Zinc futures.

At the MCX, zinc futures for July 2016 contract is trading at Rs 147.90 per kg, down by 0.03 per cent, after opening at Rs 147.05, against a previous close of Rs 147.95. It touched the intra-day low of Rs 146.85. 

The Labor Department showed its Consumer Price Index rose 0.2% month-on-month in June, meeting estimates. Shortly before the opening bell, the US Census Bureau unveiled its monthly release of retail sales in June, following an upbeat figure booked previously. 

Technically market is under fresh buying as market has witnessed gain in open interest by 11.77% to settled at 11528 while prices up 1.55 rupee, now Zinc is getting support at 146.7 and below same could see a test of 145.4 level, And resistance is now likely to be seen at 149.3, a move above could see prices testing 150.6.

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