Zinc marginally up in range-bound trade

Speculators enlarged positions, driven by firming trend in global markets

Zinc traded shade higher by 0.40% to Rs 104.95 per kg in futures trade today, after speculators enlarged positions, driven by a firming trend in global markets.

On the MCX, zinc for delivery in June edged higher by 45 paise, or 0.40%, to Rs 104.95 per kg, with a trading volume of 1,061 lots.

The metal for the July delivery also moved up by 30 paise, or 0.25%, to Rs 105.45 per kg, with a trade turnover of 39 lots.

Analysts said besides a firming trend in the entire base metals at the London Metal Exchange (LME), pick-up in demand in the spot markets also pushed up zinc futures prices.

At the LME, zinc climbed 0.3% to $1,888 per tonne.