Zinc futures rise 1.01% on global cues, spot demand

Tracking a firm trend overseas and pick up in domestic demand, zinc prices rose by 1.01 per cent to Rs 100.35 per kg in futures market today as speculators created fresh positions.
At the Multi Commodity Exchange, zinc for delivery in January 2016 was trading higher by Re 1, or 1.01 per cent, to Rs 100.35 per kg, in a business turnover of 197 lots.
Also, the metal for delivery in December traded higher by 90 paise, or 0.91 per cent, to Rs 99.35 per kg in 5,847 lots.
Analysts said apart from a firm trend in base metals in global markets, pick up in demand from consuming industries mainly attributed rise in zinc prices at the futures trade.

Globally, zinc rose 0.9 per cent, trimming the weekly decline to 2.9 per cent, the most in a month at the London Metal Exchange.