Zinc moves up in futures trade as spot demand picks up

Zinc prices moved up by Rs 1.20 to Rs 101.95 per kg in futures trade today as speculators created fresh positions, driven by a pick-up in demand in the spot market.

At the Multi Commodity Exchange, zinc for October delivery rose by Rs 1.20, or 0.36%, to Rs 101.95 per kg, with a business turnover of four lots.

The August contract rose by 70 paise, or 0.70%, to Rs 100.10 per kg in 3,988 lots.

Analysts said fresh buying by speculators on the back of a firming trend in the spot market mainly led to the rise in zinc futures prices.