Zinc futures up on global cues, spot demand

NEW DELHI: Amid a firm global trend and strong domestic demand, zinc futures prices rose today by 0.27 per cent to Rs 112.85 per kg today as speculators enlarged their positions.

At the Multi Commodity Exchange, zinc prices for delivery in December edged up by 30 paise, or 0.27 per cent, to Rs 112.85 per kg, with a business turnover of 780 lots.

Likewise, the metal prices for delivery in January traded higher by 30 paise, or 0.26 per cent to Rs 113.75 per kg, with a business turnover of 107 lots.

Marketmen said improved demand in the spot market amid a firming trend in base metals overseas on expectations that a recovering Chinese ecnomy would boost demand outlook for the metals, mainly led to the rise in zinc futures prices.