Zinc futures gain 1.38% on global cues

Taking firm cues from global markets amid firm domestic demand, zinc futures prices gained 1.38 per cent to Rs 110.20 per kg today.

Zinc for delivery in the current-month November traded Rs 1.50, or 1.38 per cent, higher at Rs 110.20 per kg, with a business turnover of 2,423 lots at the Multi Commodity Exchange platform.

The metal for delivery in December traded higher by Rs 1.45, or 1.32 per cent, to Rs 111.20 per kg, with an open interest of 148 lots.

Globally, zinc added two per cent to $2,470.75 per tonne at the London Metal Exchange (LME).

Marketmen said firming trend in the entire base metals pack at the LME after accelerated manufacturing in China, the world's largest consumer of the metals and weakening dollar, which raised appeal of commodities as an alternative investment, helped zinc futures to trade higher here.