Zinc futures edge up 0.12% on positive global cues

Zinc prices were marginally higher by 0.12 per cent to Rs 173.20 per kg in futures trade today as speculators created fresh positions following positive lead from the global markets.

At the Multi Commodity Exchange, zinc for delivery in July edged higher by 20 paise or 0.12 per cent to Rs 173.20 per kg in business turnover of 775 lots.

Similarly, the metal for delivery in August was trading lower by a similar margin to Rs 173.40 per kg in 8 lots.

Analysts said fresh positions built up by participants in line with positive trend in Asian trade, mainly supported the upside in zinc prices at futures trade here.

Meanwhile, the most-traded September zinc contract on the Shanghai Futures Exchange was trading up 0.6 per cent at 20,370 yuan (USD 3,039.98) a tonne, above Tuesday's one-year low of 20,055 yuan a tonne. It has fallen in 10 of the previous 13 trading days.