Zinc gains 0.41% as speculators create fresh position

Zinc prices edged higher by 0.41 per cent to Rs 208.25 per kg in the futures market today as participants built up fresh positions due to pick up in demand at the spot markets.

At the Multi Commodity Exchange, zinc for delivery in May edged up by 85 paise, or 0.41 per cent to Rs 208.25 per kg in business turnover of 919 lots.

On similar lines, the metal for delivery in June was trading higher by 75 paise, or 0.36 per cent to Rs 208.95 per kg in 26 lots.

Analysts said fresh positions created by traders backed by uptick in demand from consuming industries at the physical markets led to the rise in zinc prices.