Zinc futures surge 3.1% on global cues, spot demand

NEW DELHI: Taking positive cues from global market and pick up in domestic demand, zinc futures zoomed 3.10 per cent to Rs 108.10 per kg today as speculators indulged in creating positions amid short-covering by speculators.

In futures trading at Multi Commodity Exchange, zinc for delivery in December was up Rs 3.25, or 3.10 per cent, to Rs 108.10 per kg in a business turnover of 214 lots.

Also, the metal for delivery in November was trading Rs 3.20, or 3.08 per cent higher at Rs 106.95 per kg in a business volume of 1,091 lots.

Zinc prices strengthened on pick up in demand at domestic spot markets and a firm trend in the base metals pack at London Metal Exchange, market analysts said.