Zinc futures gain 0.42% on spot demand

Zinc prices edged up by 0.42 per cent to Rs 178.45 per kg in futures market today as traders created fresh positions, driven by uptick in demand in the spot market.
At the Multi Commodity Exchange, zinc for delivery in August rose by 75 paise, or 0.42 per cent to Rs 178.45 per kg in business turnover of 422 lots.
Likewise, the zinc for delivery in September went up by 65 paise, or 0.36 per cent to Rs 178.90 per kg in 4 lots.
Analysts said fresh positions created by participants due to pick up in demand from consuming industries in the spot market, mainly attributed the rise in zinc prices at futures trade.