Zinc futures recover on short-covering

Zinc prices recovered by 0.38 per cent to Rs 104.85 per kg in futures trading today on covering up of pending short positions by speculators ahead of the monthly expiry. 

However, weakness in copper and other base metals in overseas market, capped the gains at futures market here.

At the Multi Commodity Exchange, zinc for delivery in March traded higher by 40 paise, or 0.38 per cent, to Rs 104.85 per kg, with a business turnover of 968 lots.

Likewise, the metal for delivery in April gained 35 paise, or 0.33 per cent, to Rs 106.05 per kg, with a business volume of 178 lots.   

Market analysts said covering-up of pending short positions by speculators due to the approaching monthly expiry, helped zinc futures to trade higher.