Zinc futures rise 0.26 pc on overseas cues, spot demand

Tracking gains in base metals overseas and better domestic demand, zinc futures today edged up by 0.26 per cent to Rs 155.70 per kg as speculators enlarged positions.
At the Multi Commodity Exchange, zinc for delivery in September moved up by 40 paise, or 0.26 per cent, to Rs 155.70 per kg, with a business turnover of 301 lots.
Metal for delivery in October too rose by a similar margin to trade at Rs 156 per kg in a business volume of 7 lots.
Marketmen said improved demand in the spot market amid a firming trend in the base metals pack overseas after China's official factory gauge unexpectedly rose last month to the highest level in almost two years, signaling an improved demand outlook in the world's top metal user, mainly influenced zinc prices at futures trade here.

Globally, zinc for three-month delivery rose 0.5 per cent on the London Metal Exchange.