Zinc futures strengthen on firm global cues

Buoyed by a firming trend in base metals overseas on expectations of pick up in demand, zinc futures today traded 0.40 per cent higher at the Multi Commodity Exchange (MCX).

By PTI | Feb 03, 2011, 11.35 AM IST

NEW DELHI: Buoyed by a firming trend in base metals overseas on expectations of pick up in demand, zinc futures today traded 0.40 per cent higher at the Multi Commodity Exchange (MCX).

Better trend at the spot markets on the back of pick up in demand influenced zinc futures here.

At the MCX, zinc for delivery in February traded 45 paise, or 0.40 per cent higher at Rs 113.40 per kg, clocked a business turnover of two lots.

The metal for March delivery also gained 45, or 0.39 per cent, to Rs 114.35 per kg, with a business volume of three lots.

Globally, zinc gained 0.5 per cent to USD 2,488 per tonne at the London Metal Exchange (LME).

Analysts attributed the rise in zinc futures to a firming trend in copper and other base metals at LME on expectations of pick up in global demand and improved manufacturing.

Not making enough money in stocks? Click here for real-life stories of successful investors.

Too busy to trade in stocks? Invest in Mutual Funds with ET Money!