Zinc futures rise on spot demand, global cues

NEW DELHI: Zinc prices rose by Rs 1.20 to Rs 101.50 per kg in futures trade today as speculators enlarged their positions, driven by pick-up in spot market demand amid a firming global trend.

At the Multi Commodity Exchange, zinc for delivery in November rose by Rs 1.20, or 1.20 per cent, to Rs 101.50 per kg, with an open interest of two lots.

Likewise, the metal for delivery in August traded higher by 85 paise, or 0.86 per cent, to Rs 99.75 per kg, with an open interest of 4,559 lots.

Market analysts said increased buying by speculators and a firm trend in overseas market, mainly led to the rise in zinc prices at futures trade.

Meanwhile, zinc jumped by a per cent to USD 2,204 a tonne on the London Metal Exchange.