Zinc futures rise 0.24 pc on global cues

Zinc prices rose by 0.24 per cent to Rs 127.70 per kg in futures trading today largely in tandem with a firming trend overseas.
Besides, increased demand from consuming industries in the spot market supported the uptrend.
At the Multi Commodity Exchange, zinc for delivery in February rose by 30 paise, or 0.24 per cent to Rs 127.70 per kg in business turnover of 283 lots.
Likewise, the metal for delivery in March edged up by Rs 25 paise, or 0.20 per cent to Rs 127.50 per kg in 161 lots.
Market analysts attributed the rise in zinc futures to fresh positions created by participants on the back of a firm global trend on speculation that demand will outstrip supply amid a decrease in stockpiles and slow growth in new supplies from mines.

Meanwhile, zinc for delivery in three months added 0.6 per cent to 2,054 dollar a metric tonne on the London Metal Exchange.