 "Zinc up 0.37% on spot demand, global cues")
Zinc futures edged up by 0.37 per cent to Rs 136.15 per kg today as speculators enlarged positions amid a firm global trend and better domestic demand.
At the Multi Commodity Exchange, zinc for delivery in April rose by 50 paise, or 0.37 per cent, to Rs 136.15 per kg, with a business turnover of 674 lots.
The metal for delivery in May rose by a similar margin to Rs 136.90 per kg in a turnover of 25 lots.
Traders said besides improved spot demand, a firming trend in base metal at the LME over concerns that supply is tightening as inflation grew faster-than-forecast in China, the biggest user of industrial metals, influenced zinc prices at futures trade here.
Meanwhile, zinc stockpiles monitored by the LME dropped to the lowest since February 2010, as per bourse data.
At the Multi Commodity Exchange, zinc for delivery in April rose by 50 paise, or 0.37 per cent, to Rs 136.15 per kg, with a business turnover of 674 lots.
The metal for delivery in May rose by a similar margin to Rs 136.90 per kg in a turnover of 25 lots.
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Globally, zinc contracts for delivery in three months on the London Metal Exchange (LME) gained 0.1 per cent to $2,178 per tonne.
Traders said besides improved spot demand, a firming trend in base metal at the LME over concerns that supply is tightening as inflation grew faster-than-forecast in China, the biggest user of industrial metals, influenced zinc prices at futures trade here.
Meanwhile, zinc stockpiles monitored by the LME dropped to the lowest since February 2010, as per bourse data.
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