Zinc up 0.3% on spot demand, overseas cues

Supported by rising demand at the domestic spot market and a firming trend overseas, zinc futures today edged up by 0.29% to Rs 102.60 per kg after speculators created positions.

At the Multi Commodity Exchange, zinc for delivery in January increased by 30 paise, or 0.29%, to Rs 102.60 per kg, with a business turnover of 2,099 lots.

Similarly, the metal for delivery in February traded higher by 25 paise, or 0.24%, to Rs 103.35 per kg, in a turnover of 63 lots.

Traders said improved spot demand coupled with a firming trend in base metals at the London Metal Exchange (LME) reports that the European Central Bank may bolster stimulus in March, easing concerns over global growth, mainly led to the rise in zinc prices at futures trade.