Zinc futures climb 1.01% on rising demand

Zinc prices surged by 1.01 per cent to Rs 170.15 per kg in futures market Friday after speculators raised bets, driven by rising demand at the spot market.

At the Multi Commodity Exchange, zinc for delivery in September rose by Rs 1.70, or 1.01 per cent, to Rs 170.15 per kg in business turnover of 1,299 lots.

Likewise, the metal for delivery in October contracts was trading higher by Rs 1.50, or 0.88 per cent, to Rs 171 per kg in 33 lots.

Analysts said expanding of positions by participants on the back of soaring demand from consuming industries in the spot market, attributed the rise in zinc prices in futures trade.