Zinc futures up 0.50 pc in early trade
Zinc regained strength to trade 0.50 pc higher at Rs 81 per kg in the domestic futures market on expectations that China's largest zinc smelters might cut production.
By PTI |
NEW DELHI: Zinc regained strength on wednesday to trade 0.50 per cent higher at Rs 81 per kg in the domestic futures market on expectations that China's largest zinc smelters might cut production.
At 1145 hrs, most-active July contract for zinc traded 0.50 per cent higher at Rs 81 per kg after moving between Rs 81.35 and Rs 80.45 per kg on the Multi Commodity Exchange.
Traders said reports that Chinese 13 largest zinc smelting unit, which accounts for about 16 per cent of global output, might cut production, supported the rise in the metal prices in the futures market here.
Both August and September contracts were also trading up by 0.43 and 0.30 per cent to Rs 82.05 and Rs 83.05 per kg respectively.
Meanwhile, zinc prices rose by nearly 15 per cent after China's smaller zinc and lead smelters agreed last week to lower output by 10 per cent to support prices and ease a power shortage.
At 1145 hrs, most-active July contract for zinc traded 0.50 per cent higher at Rs 81 per kg after moving between Rs 81.35 and Rs 80.45 per kg on the Multi Commodity Exchange.
Traders said reports that Chinese 13 largest zinc smelting unit, which accounts for about 16 per cent of global output, might cut production, supported the rise in the metal prices in the futures market here.
Both August and September contracts were also trading up by 0.43 and 0.30 per cent to Rs 82.05 and Rs 83.05 per kg respectively.
Meanwhile, zinc prices rose by nearly 15 per cent after China's smaller zinc and lead smelters agreed last week to lower output by 10 per cent to support prices and ease a power shortage.
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