Zinc futures up on good spot demand, global cues

NEW DELHI: Zinc prices edged up by 0.40 per cent in futures trade today after speculators created fresh positions, supported by rising spot demand and a firming global trend.

At the Multi Commodity Exchange, zinc for delivery in February traded higher by 40 paise, or 0.40 per cent, to Rs 99.70 per kg, with a business turnover of 468 lots.

Similarly, the metal for delivery in March inched up by similar margin to Rs 101.75 per kg, with a business turnover of 64 lots.

Analysts attributed the rise in zinc futures to a firming trend at the London Metal Exchange (LME) and pick up in domestic demand.

At the LME, zinc gained 0.40 per cent to USD 2,036 per tonne in early trade today.