Zinc up on strong overseas trend

Buoyed by a firming global trend, zinc futures prices inched up by 0.38% to Rs 104.40 per kg today as speculators created fresh positions.

At the Multi Commodity Exchange, zinc for delivery in February inched up by 40 paise, or 0.38% to Rs 104.40 per kg in business turnover of 1,071 lots.

March zinc edged up by 35 paise, or 0.33%, to Rs 105.30 per kg in 16 lots.

Market analysts said fresh buying by speculators influenced by a firming trend in entire base metal in the global markets, pick-up in domestic demand mainly led to rise in zinc prices at futures market here.

Meanwhile, zinc rose 0.3% to $2,126 a tonne on the London Metal Exchange.