Zinc edges higher on firming global trend

Amid a firming trend in base metals at the London Metal Exchange (LME), zinc prices edged higher by 0.58% to Rs 104.55 per kg in futures trading today.

Rising demand at the domestic spot markets also supported the uptrend in zinc futures.

At the MCX, the May delivery traded higher by 60 paise, or 0.58%, to Rs 103.85 per kg, with a business turnover of 693 lots.

The June contract edged up by 55 paise, or 0.53%, to Rs 104.55 per kg, with a business turnover of 72 lots.

Analysts attributed the rise in zinc futures to a firming trend in global markets and increased demand in the spot market.

At the LME, zinc gained 0.5% to $1,908 per tonne.