Spot demand lifts zinc futures by 0.56%

Zinc prices inched up by 0.56 per cent to Rs 171.60 per kg in futures market today as traders created fresh positions following upsurge in demand in the spot market.
Besides, covering-up of pending short positions by speculators ahead of December expiry too supported the rise in prices.
At the Multi Commodity Exchange, zinc for delivery in December month traded higher by 95 paise, or 0.56 per cent to Rs 171.60 per kg in business turnover of 1,141 lots.
In a similar fashion, the metal for delivery in January contracts was trading higher by 80 paise, or 0.47 per cent to Rs 171.90 per kg in 102 lots.

Market analysts attributed the rise in zinc futures to pick up in demand from consuming industries in the spot market.