Zinc futures up on global cues
Zinc prices traded higher by Rs 1.60 to Rs 99 per kg in futures trading today on fresh buying by trader, tracking gains in base metals overseas.
At the Multi Commodity Exchange, zinc for delivery in July traded higher by Rs 1.60, or 1.64% to Rs 99 per kg, with a business turnover of two lots.
Similarly, the metal for delivery in June gained Rs 1.20, or 1.25% to Rs 97.50 per kg, with business volume of nine lots.
Market analysts said a firming trend in the entire base metals at the London Metal Exchange and pick-up in domestic demand at spot markets, mainly led to the rise in zinc futures prices here.
Meanwhile, zinc increased by 3.2% to $2,157.75 a metric tonne at London Metal Exchange.