Zinc futures extend gains, up 0.34% on global cues

Continuing its rising streak for the fifth running day, zinc prices were higher by 0.34 per cent to Rs 146.90 per kg in futures trade today as participants engaged in enlarging their positions, taking positive cues from global market.
Besides, increased demand from consuming industries at domestic spot market supported the upside.
At the Multi Commodity Exchange, zinc for delivery in July edged up by 50 paise or 0.34 per cent to Rs 146.90 per kg in business turnover of 242 lots.
On similar lines, the metal for delivery in August traded higher by 45 paise or 0.31 per cent to Rs 147.50 per kg in 8 lots.

Analysts said a firming global trend where zinc traded near a 13-month high as supply concerns mount on the outlook for mine closures, mainly buoyed sentiment here in futures trade.
Globally, zinc for delivery in three months rose 0.5 per cent to USD 2,189 a tonne on the London Metal Exchange. Prices had touched USD 2,210.50 on Wednesday, the highest since May 2015.