Zinc futures rises on short covering
Zinc prices recovered by Rs 0.35, by 0.43 per cent, to Rs 80.95 per kg in futures market on Wednesday, as speculators covered up their short positions in view of monthly expiry.
By PTI |
NEW DELHI: Zinc prices recovered by Rs 0.35, by 0.43 per cent, to Rs 80.95 per kg in futures market on Wednesday, as speculators covered up their short positions in view of monthly expiry.
Better trend at the London Metal Exchange after previous session's losses also helped zinc futures to trade higher.
On the Multi Commodity Exchange counter, zinc for delivery in June contract traded Rs 0.35, or 0.43 per cent higher at Rs 80.95 per kg, with a turnover of 256 lots.
The metal for delivery in July contract also gained by Rs 0.30, or 0.37 per cent, to Rs 82.35 per kg, with an open interest of 151 lots.
At the London Metal Exchange counter, zinc rose 0.98 per cent to $1,760 per tonne in early trade today.
Market analysts attributed the recovery in zinc futures prices to covering up of pending positions by speculators, as today being the last session of June-month.
Besides, recovery in base metals at the London Metal Exchange in early trade today also supported the upswing, they said.
Better trend at the London Metal Exchange after previous session's losses also helped zinc futures to trade higher.
On the Multi Commodity Exchange counter, zinc for delivery in June contract traded Rs 0.35, or 0.43 per cent higher at Rs 80.95 per kg, with a turnover of 256 lots.
The metal for delivery in July contract also gained by Rs 0.30, or 0.37 per cent, to Rs 82.35 per kg, with an open interest of 151 lots.
At the London Metal Exchange counter, zinc rose 0.98 per cent to $1,760 per tonne in early trade today.
Market analysts attributed the recovery in zinc futures prices to covering up of pending positions by speculators, as today being the last session of June-month.
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Besides, recovery in base metals at the London Metal Exchange in early trade today also supported the upswing, they said.
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