Zinc futures marginally up by a per cent, tracking global cues

NEW DDELHI: Zinc prices strengthened by one per cent to Rs 115.80 per kg in futures trade today as speculators created fresh positions, taking positive cues from the domestic spot market on upsurge in demand.

Moreover, firming trend in base metals in global markets supported the upside.

At the Multi Commodity Exchange, zinc for delivery this month rose by Rs 1.15 or 1.00 per cent to Rs 115.80 per kg in business turnover of 654 lots.

On similar lines, the metal for delivery in March contracts traded higher by Rs 1.05 or 0.91 per cent to Rs 116.30 per kg in 30 lots.

Market analysts attributed the rise in zinc futures to fresh bets created by participants supported by pick up in demand from consuming industries in the spot market and a firm trend in base metals in global markets.